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Arix Bioscience Plc - Iterum Therapeutics plc Closes Initial Public Offering

PR Newswire

London, May 30

Iterum Therapeutics plc Closes Initial Public Offering

LONDON, 30 May 2018

Arix Bioscience plc (“Arix”, LSE: ARIX) a global healthcare and life science company supporting medical innovation, today notes that its Group Business Iterum Therapeutics plc (“Iterum”, NASDAQ:ITRM), a clinical-stage pharmaceutical company developing anti-infectives aimed at combatting the global crisis of multi-drug resistant pathogens, today closed its initial public offering of 6,150,000 of its ordinary shares at an initial offering price to the public of $13.00 per share. All of the shares were offered by Iterum. The shares are listed for trading on the Nasdaq Global Market under the symbol "ITRM".

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).

Joe Anderson, Chief Executive Officer of Arix Bioscience plc, commented:

“Iterum was founded in 2015 with the ambition to develop an antibiotic that addresses the growing crisis of multi-drug-resistant pathogens, and today we see it reach an important milestone towards reaching that goal. We believe Iterum has considerable potential to deliver important new treatment options to patients and we are excited to support the company’s next stage of growth and development.”

This press release 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.

ENDS

Enquiries

For more information on Arix, please contact:

Arix Bioscience plc

Charlotte Parry, Investor Relations Manager

+44 (0)20 7290 1072

charlotte@arixbioscience.com

Consilium Strategic Communications

Mary-Jane Elliott, Jessica Hodgson, Ivar Milligan

+44 (0)20 3709 5700

arix@consilium-comms.com

Burns McClellan

Lisa Burns, John Grimaldi, Bill Slattery Jr.

+1 212-213-0006

arix@burnsmc.com

About Arix Bioscience plc

Arix Bioscience plc is a global healthcare and life science company supporting medical innovation. Headquartered in London and with an office in New York, Arix Bioscience sources, finances and builds world class healthcare and life science businesses addressing medical innovation at all stages of development. Operations are supported by privileged access to breakthrough academic science and strategic relationships with leading research accelerators and global pharmaceutical companies.

Arix Bioscience plc is listed on the Main Market of the London Stock Exchange.