Arix Bioscience plc (“Arix”, LSE: ARIX) a global venture capital company focused on investing in and building breakthrough biotech companies around cutting edge advances in life sciences, today announces its annual results for the year ended 31 December 2018.
LONDON, 28 March, 2019: Arix Bioscience plc (“Arix”, LSE: ARIX) a global venture capital company focused on investing in and building breakthrough biotech companies around cutting edge advances in life sciences, today announces its annual results for the year ended 31 December 2018.
Financial highlights
- £70m net positive revaluation of the portfolio[1]
- £52m invested across the portfolio and a further £16m post year-end[2]
- Gross portfolio value increased to £175m (2017: £54m)
- Net Asset Value increased to £270m (2017: £146m)
- £87m capital raise in March 2018
- NAV per share increased to £2.00 (2017: £1.52)
Operational highlights
- Nasdaq listing of four Arix companies[3]
- Positive portfolio progression; 26 clinical trials underway; 19 expected readouts in 2019[4]
- $555m capital raised by Arix portfolio companies in 2018
- New commercial partnerships added with Fosun, Ipsen and Fred Hutchinson Cancer Research Center
Post period end investments:
- Co-led $63m Series B for Imara, a clinical stage biopharmaceutical company focused on sickle cell disease and other hemoglobinopathies; committing $15m (£11.3m)
- Harpoon completed a successful IPO on Nasdaq, raising $81m; Arix invested $6m (£4.6m) to retain a stake of 12.1%
Joe Anderson, Chief Executive Officer of Arix Bioscience plc, commented:
“We are encouraged by progress in 2018 with a number of positive developments in our business, and a net increase of £70m in the value of our portfolio companies. Overall, we grew our Net Asset Value from £146m at the beginning of 2018 to £270m at year end which, on a per share basis, was an increase of 32% over the year.
“This performance is an early sign, I believe, of the potential in our business and the strength of the young portfolio we have built. We are well positioned for further growth and investment in 2019 and look forward to the year ahead with confidence and optimism”.
ENDS
Arix also announces Board changes. Please see the news here: https://bit.ly/2U2X1LW
Enquiries
For more information on Arix, please contact:
Arix Bioscience plc
Charlotte Parry, Head of Investor Relations
+44 (0)20 7290 1072
Optimum Strategic Communications
Mary Clark, Supriya Mathur, Hollie Vile
+ +44 (0) 7713335171
About Arix Bioscience plc
Arix Bioscience plc is a global venture capital company focused on investing in and building breakthrough biotech companies around cutting edge advances in life sciences.
We collaborate with exceptional entrepreneurs and provide the capital, expertise and global networks to help accelerate their ideas into important new treatments for patients. As a listed company, we are able to bring this exciting growth phase of our industry to a broader range of investors.
