18 Dec 2020 08:00
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 previously announced 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)[1] 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.
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Enquiries For more information on Arix, please contact:
Arix Bioscience plc Charlotte Parry, Head of Investor Relations +44 (0)20 7290 1072 charlotte@arixbioscience.com
Optimum Strategic Communications Supriya Mathur, Shabnam Bashir, Manel Mateus +44 (0)20 3922 1906 optimum.arix@optimumcomms.com
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: www.arixbioscience.com [1] At GBP/USD FX rate of 1.3500
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| 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 |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.