Financial update on Harpoon Therapeutics acquisition by Merck (MSD) (1818409)

Arix Bioscience PLC (ARIX) 
Financial update on Harpoon Therapeutics acquisition by Merck (MSD) 
19-Jan-2024 / 07:01 GMT/BST 
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Arix Bioscience plc 
 
Financial update on Harpoon Therapeutics acquisition by Merck (MSD) 
LONDON,  19 January 2024: Arix Bioscience plc ("Arix" or the "Company") (LSE: ARIX), a global venture capital company 
focused on investing in breakthrough biotechnology companies, provides a financial update on its expected returns from 
the Harpoon Therapeutics (NASDAQ: HARP) ("Harpoon") acquisition by Merck (NYSE: MRK) following the announcement that 
Merck (known as MSD outside the United States and Canada), through a subsidiary, agreed to acquire Harpoon for USD23.00 
per share in cash for an approximate total equity value of USD680 million. 
The sale of Harpoon is expected to deliver net proceeds to Arix of approximately USD18.9 million (GBP14.9 million [1]). 
This equates to a GBP10.9 million (8p per share) increase in Arix's GBP4 million prior holding value of its Harpoon 
interests and, when combined with prior realisations of GBP12.5 million, represents an overall return of 1.2x on the 
GBP23.3 million total capital invested in Harpoon since Arix first invested. [2] 
Peregrine Moncreiffe, Chairman of Arix, commented: "Arix has been an investor in Harpoon Therapeutics since 2017, and 
it is great to see a company that we have been a part of since the early stages move through the clinic and receive 
recognition for the platform they have worked hard to develop. This acquisition by Merck provides significant potential 
for bringing life-saving treatment to cancer patients as they enhance their oncology pipeline. In what has been a 
difficult time across the biotech sector we see this M&A activity as a further sign of market recovery." 
The transaction is expected to close in the first half of 2024. 
[1] At prevailing GBP/USD FX rate on 18 January 2024. Based on USD23 per share for Arix's public shareholding, net USD13 
per share for Arix's warrant shares and USD3,500 per Series A Preferred share, plus accrued interest at 8% 
[2] GBP4.0 million valuation at 30 June 2023, as reported at interim results 2023, for listed and Series A Preferred 
shares 
[ENDS] 
 
Enquiries 
For more information on Arix, please contact: 
 
Arix Bioscience plc 
[phone] 
[e-mail] 
 
Powerscourt Group 
Sarah MacLeod,  Nick Johnson, Molly Ring 
[phone] 
[e-mail] 
 
About Arix Bioscience plc 
Arix Bioscience plc is a global venture capital company focused on investing in breakthrough biotechnology 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. www.arixbioscience.com 
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The issuer is solely responsible for the content of this announcement. 
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ISIN:           GB00BD045071 
Category Code:  PFU 
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.:   298385 
EQS News ID:    1818409 
 
End of Announcement  EQS News Service 
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(END) Dow Jones Newswires

January 19, 2024 02:01 ET (07:01 GMT)