ARIX Arix Bioscience

Completion of sale of VelosBio

Arix Bioscience PLC (ARIX)
Completion of sale of VelosBio

18-Dec-2020 / 08:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Arix Bioscience plc

 

Completion of sale of VelosBio

 

LONDON, 18 December 2020: Arix Bioscience plc ("Arix", LSE: ARIX), a global venture capital company focused on investing in and building breakthrough biotech companies, today announces the completion of the sale of its portfolio company VelosBio Inc. ("VelosBio"), to Merck & Co., Inc., Kenilworth NJ., USA, for final all cash consideration of $2.75 billion.

 

The trade sale of VelosBio generates gross proceeds of $187.0 million (£138.5 million) to Arix, representing a 12.5x return on its original investment of $15.0 million (£11.8 million) and an internal rate of return (IRR) of 328%.

 

The tax treatment of this transaction will be detailed within Arix's 2020 Annual Report and Accounts, to be published in March 2021.

 

[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

 

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.

For more information please visit:

At GBP/USD FX rate of 1.3500

 
ISIN: GB00BD045071
Category Code: MSCU
TIDM: ARIX
LEI Code: 213800OVT3AHQCXNIX43
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 89913
EQS News ID: 1155675

 
End of Announcement EQS News Service

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