ARIX.L Regulatory News (ARIX)

Arix Bioscience Plc - Autolus Announces Pricing of Initial Public Offering

PR Newswire

London, June 22

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF THE EU MARKET ABUSE REGULATION NO.596/2014

Arix Bioscience plc

Autolus Announces Pricing of Initial Public Offering

LONDON, 22 June 2018

Second public listing of an Arix company, approximately two years after Arix inception

Autolus is Arix’s largest holding, accounting for 24.7% of invested and committed capital to date1

The value of Autolus ordinary shares held by Arix has been increased by 73% to give an aggregate value of $53.7 million, equivalent to the IPO price of $17 per ADS

Arix Bioscience plc (LSE:ARIX) ("Arix"), a global healthcare and life science company supporting medical innovation notes that its largest Group Business holding Autolus Therapeutics plc (“Autolus”) today announced the pricing of its initial public offering (“IPO”) in the United States of 8,823,530 American Depositary Shares (“ADSs”) at an initial public offering price of $17 per ADS for total gross proceeds of approximately $150.0 million (£113.6 million)2. All ADSs sold in the IPO were offered by Autolus. The ADSs are expected to begin trading on The Nasdaq Global Select Market on June 22 2018 under the ticker symbol “AUTL.”

The value of Autolus ordinary shares held by Arix has increased by 73% to give an aggregate value of $53.7 million, equivalent to the IPO price of $17 per ADS. Arix retains a stake of 8.2% in Autolus (amounting to 3,161,533 ADSs), having agreed to invest $7.2 million (£5.5 million)2 in the IPO, in line with its strategy to support Group Businesses through all stages of development.

Autolus is Arix’s largest holding, accounting for 24.7%1 of invested and committed capital to date. Arix led the Series B financing of Autolus in March 2016 with Joe Anderson, Arix's CEO, joining Autolus’ Board of Directors. Autolus has since progressed from a pre-clinical to clinical stage company and is in the process of building out the capabilities needed to manufacture and develop its programmed T cell product candidates. Post IPO, Autolus has an estimated market cap of $660 million.

Arix’s Chief Executive Officer and Autolus’ Non-Executive Director, Joe Anderson said:

“Since the inception of Autolus four years ago, the company has commenced 6 clinical trials in 5 programmes and added the capabilities needed to bring its next-generation T-cell therapies to market. We believe Autolus is at the forefront of a revolution in cancer treatment and that its innovative approach to T-cell programming has the potential to offer life-changing therapies for patients, with both haematological and solid cancers.”

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

The securities referred to in this announcement are to be offered only by means of a prospectus. When available, copies of the prospectus can be obtained from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at +1 866 471 2526 or by email at prospectusgroup-ny@ny.email.gs.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at + 1 877 821 7388, or by email at Prospectus_Department@Jefferies.com. For the avoidance of doubt, such prospectus will not constitute a "prospectus" for the purposes of Directive 2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the extent implemented in each relevant EU member state) and will not have been reviewed by any competent authority in any EU member state.

[ENDS]

[1] Including new investment in the IPO

[2] At exchange rate on the 27 June 2018