Arix Bioscience Share Discussion Threads

[rambutan2] 03/4/2019 03:53

Funding and uplift:

LONDON, 2 April 2019: Arix Bioscience plc (“Arix”, LSE: ARIX) a global venture capital company focused on investing and building breakthrough biotech companies, today announces that it has committed $4.5 million (£3.4 million1) to the $40 million (£31 million) Series D financing (“the financing”) of Aura Biosciences , a leader in the development of novel targeted therapies in ocular oncology.

Following this commitment, Arix increases its stake to 7.7% on a fully diluted basis. Arix Investment Director Mark Chin will continue to serve on the Aura Board. The financing recognised a 33% uplift in the book value of Arix’s Series C investment in Aura, with Arix’s total interest in Aura increasing to £8.5 million from £3.9 million on a fully committed basis.

[rambutan2] 03/4/2019 03:47

Results presentation webcast now available and worth a watch:



And here is the full AR:

[rambutan2] 31/3/2019 20:25

Agree. Only gripe is the still too high costs. Hasn't really shifted the share price, I assume due to Woodford overhang worries, but confirms that currently on offer at a 25% discount to nav. Worth noting that at 31/12, AUTL which is easily the largest investment, closed at $32. At close on fri it was around that price, so ARIX's nav is a still valid one. Also even after post y/e fundings, by my calcs there is still well over £70m of cash on the balance sheet.

LONDON, 28 March, 2019: Arix Bioscience plc (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

* GBP70m net positive revaluation of the portfolio[1]
* GBP52m invested across the portfolio and a further GBP16m post year-end[2]
* Gross portfolio value increased to GBP175m (2017: GBP54m)
* Net Asset Value increased to GBP270m (2017: GBP146m)
* GBP87m capital raise in March 2018
* NAV per share increased to GBP2.00 (2017: GBP1.52)

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 (GBP11.3m)
* Harpoon completed a successful IPO on Nasdaq, raising $81m; Arix invested
$6m (GBP4.6m) 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 GBP70m in the value of our portfolio
companies. Overall, we grew our Net Asset Value from GBP146m at the beginning of
2018 to GBP270m 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".

[brexitplus] 28/3/2019 07:49

Good and encouraging results.

[rambutan2] 20/3/2019 20:47

And from a couple of day's ago:

LONDON, 18 March 2019: Arix Bioscience plc ("Arix") (LSE: ARIX), a global
healthcare and life science company supporting medical innovation, today
announces it has invested in new portfolio company Imara, Inc. ("Imara"), a
company dedicated to developing novel therapeutics for chronic treatment of
Sickle Cell Disease ("SCD") and other hemoglobinopathies.

As part of the financing, Arix has committed to invest $15.0 million (GBP11.3
million) for a 10% stake on a fully diluted basis. Arix Investment Director
Mark Chin will join Imara's board of directors and Investment Associate John
Cassidy will join as an observer.



And as a comparison (named by John Cassidy in an interview), a listed and more advanced SCD treatment company, with a big valuation:

[rambutan2] 20/3/2019 20:45

I think they've moved the date forward a few weeks, prob in the hope that a nice uplift in nav etc will bring out some buyers.

LONDON, 20 March 2019: Arix Bioscience plc (LSE: ARIX), a global healthcare and
life science company supporting medical innovation, will announce its annual
results for the year ended 31 December 2018 on Thursday, 28 March 2019.

Joe Anderson, CEO and James Rawlingson, CFO, will host a breakfast briefing and
call for analysts at 09:30 GMT on the day of the results at Stifel, 150
Cheapside, London, EC2V 6ET.

Details of the webcast will be available on request. The webcast will be
recorded and a replay will be available on the company website.

[alcimedes] 19/3/2019 22:09

I reckon approx. 20% of Arix is held in his Equity Income Fund and another 4.5% in WPCT.

If Fund redemptions continue apace and he is a forced seller of Arix this could depress the price for some time yet and create a buying opportunity.

I was able to pick up FORT cheap in similar circumstances last year when he gradually sold virtually all of a 20% stake.

[rambutan2] 19/3/2019 21:28

I can only assume that Woodford is dripping stock into the mkt, while any buyers sit on their hands and watch it get cheaper. (?)

[skyship] 29/1/2019 16:54

So a potential £4m-£8m uplift. Would make a pretty small contribution versus the large bookloss in Autolus since 2months ago!

[hampton58] 29/1/2019 16:41

IPO announced todayFully diluted MV $ 377 mill

[rambutan2] 25/1/2019 19:18

Just catching up and see that Harpoon filed for an ipo at the very end of last year. After the november Series C series funding ARIX held an 11% stake valued at £23m:

[rambutan2] 10/11/2018 20:29

Mr Mkt clearly has a big downer on ITRM, although I'm unclear why, as to my non expert view it all sounds rather promising - doesn't it always! Broker targets are 3-4x of current price.



Presentation:


A reminder:
"Arix has invested $4.4 million (£3.3 million) in Iterum’s IPO. Following completion of the offering, Arix holds a stake of approximately 7.4 percent of the issued and outstanding shares of Iterum (amounting to 1,031,903 ordinary shares)."

And:
“We are excited to initiate SURE 2 and SURE 3, our remaining Phase 3 clinical trials for sulopenem, providing three indications at launch, if approved,” said Corey Fishman, Chief Executive Officer of Iterum. “The initiation of these trials, together with SURE 1, which we initiated in early August, means that our entire Phase 3 clinical program for sulopenem is currently underway. Given this achievement, we reiterate our expectation of announcing top-line data from all three trials in the second half of 2019 and U.S. regulatory submissions by the end of 2019. We believe we are setting the stage for a series of value-creating, near-term milestones for Iterum that will be funded by our current cash resources.”

[rambutan2] 10/11/2018 19:37

And at the AUTL close price of $48 the 3,161,533 shares held tot up to $152m/£117m.

[rambutan2] 10/11/2018 19:25

For the record:

"Following the IPO, Arix retains a stake of 12.9% in LogicBio (amounting to
2,979,023 shares of common stock), which was valued at GBP22.9 million at the
close of business on 18 October 2018. This represents a gain of GBP12.6 million
on total cash invested in LogicBio by Arix."

So, at yesterday's $15 close, that's approx $45m/£35m.

[pdt] 10/11/2018 07:49

LogicBio also finished at a high of $15. The NAV of Arix must be over £300m now. Trading at a discount of around 25%. The Nasdaq listed stocks are extremely volatile so perhaps the discount is justified.

[brexitplus] 10/11/2018 06:30

Autolus finished at $48 last night with a high of $53?

[pdt] 31/10/2018 10:37

I wonder why Arix trades at around a 20% discount to NAV compared to Syncona at a premium of some 30% ??

There should be news on their recent investment in Pharmaxis early in the new year with a partner for their Fibrosis LOX2 treatment and Verona will have an important trial result for their COPD treatment in Jan 19. Perhaps one of them will shift the price back towards 200p ?

[skyship] 20/10/2018 09:43

The LogicBio flotation results in a mark-up in the ARIX stated NAV to 200p; and with the LOGC share price moving ahead from the listing price of $10.00 to close at $11.50, the NAV now at 204.5p.

Of course, it is stated/assumed that there is much hidden value within the ARIX portfolio, so any further evidence of such may now instigate a move back up to the 200p level...

Incidentally, a look at two of their other US-listed holdings shows Autolus (our largest holding) has added c£10m since 30th June; whilst Iterum has lost c£3.5m over the same period.

[skyship] 10/10/2018 07:44

Looks like a potential NAV increase of c12p:
===========================================

Arix Bioscience plc (LSE:ARIX) ("Arix"), a global healthcare and life science
company supporting medical innovation, today notes that LogicBio Therapeutics
Inc.("LogicBio") has filed an amended registration statement on Form S-1 with
the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed
initial public offering in the United States of shares of its common stock.

The registration statement discloses an indicative pricing range for the
proposed offering of U.S.$12.00- U.S.$14.00 per common share. This would
represent an increase in value of Arix's current shareholding in LogicBio
(compared to the GBP4.9 million sterling holding value) of GBP15.9 - GBP19.4 million
[1]. The proposed maximum aggregate offering amount specified in the filing is
U.S.$75.0 million, which assumes that the offering price is at the midpoint of
the indicative pricing range and does not include the underwriters' option to
purchase additional common shares.

[eaaxs06] 27/9/2018 11:44

Wow, for the first time in two days someone has actually traded some shares. Ok, I know its only 200, but at least it's a start.

[alcimedes] 26/9/2018 20:32

13.3% equity interest in LogicBio valued at £4.9m on 30 June 2018. Let's hope the IPO gives the valuation a pop.

[eaaxs06] 26/9/2018 15:00

Can it go all day without a single share being traded?

[brexitplus] 26/9/2018 09:26

Good to see news of an IPO today.

[aim_trader] 24/9/2018 10:56

Arix Bioscience will be presenting to investors at the upcoming Proactive One2One Forum on 4th October in Mayfair, London from 6pm. Details here: