RTW Investments has agreed to back uro-oncology specialist UroGen Pharma with $75 million in upfront cash in return for tiered, future cash payments based on aggregate worldwide annual net product sales of UroGen products.
Founded by Roderick Wong in 2011, New York-based RTW operates both a venture strategy and hedge fund strategy totaling a combined $3.6 billion. Wong, an MD, is responsible for managing the firm’s investments focused on innovative drug development. Prior to forming RTW, he was a managing director and sole portfolio manager for the Davidson Kempner Healthcare Funds.
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