RTW Biotech Opportunities Ltd - New York-based investment firm focused on the life sciences sector - Says it completed on Friday its previously announced acquisition of a 25.5% stake in Arix Bioscience PLC for USD57.1 million, equivalent to GBP1.37 per Arix share. Purchase is to support its planned all-share acquisition of Arix's assets. Arix says RTW on January 15 received confirmation from the UK Financial Conduct Authority that it has approved the proposed change of control. Companies say that as planned, Non-Executive Directors Maureen O'Connell and Isaac Kohlberg have resigned from Arix's board, effective Friday.
RTW Investments Chief Investment Officer Roderick Wong says: "We remain excited to partner with Arix and combine our complementary portfolios to capitalise on the tremendous opportunities across the life sciences markets. Today's announcement is an important milestone towards the overall completion of the transaction and RTW Bio has undertaken to vote its entire Arix shareholding to support the Arix scheme."
RTW current stock price: USD1.35
12-month change: up 5.5%
Arix current stock price: 135.16 pence, down 0.3%
12-month change: up 28%
By Emma Curzon, Alliance News reporter
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Rtw Biotech (RTW)