Arix Bioscience plc (“Arix”, LSE: ARIX) a global venture capital company focused on investing in and building breakthrough biotech companies, notes that portfolio company Artios Pharma Limited (“Artios”), a leading DNA Damage Response (DDR) company developing a broad pipeline of precision medicines for the treatment of cancer, and Merck KGaA, Darmstadt, Germany (“Merck KGaA”)
LONDON, 03 December 2020: Arix Bioscience plc (“Arix”, LSE: ARIX) a global venture capital company focused on investing in and building breakthrough biotech companies, notes that portfolio company Artios Pharma Limited (“Artios”), a leading DNA Damage Response (DDR) company developing a broad pipeline of precision medicines for the treatment of cancer, and Merck KGaA, Darmstadt, Germany (“Merck KGaA”), a leading science and technology company, today announced a global three-year strategic research collaboration to discover and develop multiple precision oncology drugs.
As part of the agreement, Artios will receive a payment of US$30 million in the form of an upfront and near-term payments. Merck KGaA shall have the right to opt into exclusive development of compounds on up to eight targets. If Merck KGaA chooses to exercise the option, subject to double digit option fees, Artios will be eligible to receive up to US$860 million per target, in addition to up to double digit royalty payments on net sales of each product commercialised by Merck KGaA. Subject to certain conditions, Artios has opt-in rights for joint development and commercialisation with Merck KGaA for the programmes.
Under the terms of the agreement, the companies will leverage Artios’ proprietary nuclease targeting discovery platform to jointly identify multiple synthetic lethal targets for precision oncology drug candidates. The collaboration does not include Artios’ lead programmes, Polθ and ATR inhibitors, for which Artios will retain all rights.
Arix is the largest shareholder in Artios, with a 12.7% ownership stake on a fully diluted basis.
Jonathan Tobin, Managing Director at Arix and Artios Board Director, commented: “Artios is a global powerhouse in DDR. Together with Merck KGaA’s significant expertise and R&D resources, the collaboration will identify and develop precision oncology medicines targeting nucleases. As early investors and the largest shareholder in Artios, we are proud of the company’s success. It is a testament to its leadership team and strategy in developing a unique discovery platform of novel DNA repair nuclease inhibitors and targets which will bring real impact to cancer patients.”
ENDS
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
Supriya Mathur, Shabnam Bashir, Manel Mateus
+44 (0)20 3922 1906
