ARIX.L Regulatory News (ARIX)

Arix Bioscience Plc - LogicBio prices Nasdaq IPO

PR Newswire

London, October 19

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

Arix Bioscience plc

LogicBio prices Nasdaq IPO

LONDON, 19 October 2018

Third public listing of an Arix company, three years after LogicBio inception

Arix invests $7.0 million (£5.4 million) in the IPO to retain a stake of 13.5% in LogicBio

The new total value of Arix’s shareholding in LogicBio is £22.9 million; this represents a gain of £12.6 million on total cash invested in LogicBio by Arix

Arix Bioscience plc (LSE:ARIX) ("Arix"), a global healthcare and life science company supporting medical innovation notes one of its Group Businesses, LogicBio Therapeutics, Inc (“LogicBio”) has announced the pricing of its initial public offering of 7,000,000 shares of common stock at a public offering price of $10.00 per share for aggregate gross proceeds of $70.0 million. All of the shares are being offered by LogicBio. LogicBio’s common stock is expected to begin trading on The Nasdaq Global Market on 19 October 2018 under the ticker symbol “LOGC”.

The IPO resulted in an increase in the value of Arix’s initial investment in LogicBio to £17.5 million; a £12.6 million uplift to the last disclosed value of £4.9m[1]. Additionally, Arix has agreed to invest $7.0 million (£5.4 million) in the IPO to retain a total stake of 13.5% in LogicBio (amounting to 2,979,023 shares of common stock), giving a total new valuation of £22.9 million at the close of business on 18 October 2018.

LogicBio expects to use the net proceeds from the IPO for ongoing development of its lead product candidate, for discovery and preclinical development of additional product candidates using its GeneRide™ platform and the remainder for general corporate purposes.

Joe Anderson, CIO of Arix, commented:

“Gene therapy offers great promise for tackling rare diseases and the science is advancing rapidly. Genetic disease in early childhood presents a particular set of challenges, which we believe LogicBio has the potential to address with its GeneRide technology. We continue to work with the company as it advances towards the clinic with potential breakthrough treatments for patients."

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on October 18, 2018. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at prospectus_department@jefferies.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 1717, by telephone at 888-603-5847 or by email at barclaysprospectus@broadridge.com; William Blair & Company, L.L.C. Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com.

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

Mary Clark, Supriya Mathur

+44 (0)203 714 1787

optimum.arix@optimumcomms.com

Burns McClellan (US Media & IR Enquiries)

Bill Slattery Jr., Nancie Steinberg

+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. For further information, please visit www.arixbioscience.com

About LogicBio Therapeutics

LogicBio Therapeutics is a genome editing company focused on developing medicines to durably treat rare diseases in patients with significant unmet medical needs using GeneRide™, its proprietary technology platform. GeneRide™ enables the site-specific integration of a therapeutic transgene, in a nuclease-free and promotorless approach by relying on the native process of homologous recombination to drive lifelong expression. Headquartered in Cambridge, Massachusetts, LogicBio is committed to developing medicines that will transform the lives of pediatric patients and their families.

[1] Compared to the 30 June 2018 sterling holding value

All numbers quoted are at the prevailing exchange rate on 18 October 2018