Investment company RTW Biotech Opportunities Ltd (LSE: RTW) on Wednesday announced the completion of a merger between its portfolio company Jade Biosciences and Aerovate Therapeutics. The combined entity will operate as Jade Biosciences Inc and trade on Nasdaq under the ticker symbol JBIO.

Jade Biosciences is advancing JADE-001, an investigational monoclonal antibody targeting APRIL for the treatment of Immunoglobulin A nephropathy (IgAN), a progressive autoimmune kidney disease. Clinical trials for JADE-001 are scheduled to begin in the second half of 2025, with initial results expected in the first half of 2026.

RTW Biotech first invested in Jade during its seed round in August 2024. As of 31 March 2025, the investment represented 0.6% of the company's net asset value.

Managed by RTW Investments, LP, RTW Biotech Opportunities Ltd focuses on high-growth opportunities in biopharmaceuticals and medical technology, supporting innovation through long-term capital deployment.