UK-based Arix Bioscience, a biotech investment group floated on the London Stock Exchange in 2017. Arix is a global healthcare and life science company focused on generating value from the development and commercialisation of innovative technologies and discoveries. According to Fierce Biotech, the Arix Bioscience IPO allows the group to invest in 15 early-stage biotechs.
Arix Bioscience now trades under the ticker LON:ARIX and you can keep up to date with the current share price here.
The firm received backing to the tune of £52.05m from private equity investors in 2016, using this capital to invest a “significant amount” into five biotech groups, build relationships and invest into research accelerators. The Arix business model is to source, finance and develop high quality healthcare and life science businesses globally that deliver or seek to deliver innovative therapies to patients.
Initial public offering
On Thursday 2nd February 2017, the group announced its intention to float with a £100m raise on the LSE and opened at a price of 210 pence per ordinary share, which was available until 16th February. The company had an estimated market capitalisation of £187m at the Offer Price following admission and trades under the ticker of ARIX. Arix Bioscience hit a high of 215p per share as of 30th June 2017.
Arix CEO Joe Anderson said the following about the company
Arix has privileged access to some of the world’s most innovative businesses via links with academia, research accelerators, our own fund management organization and extensive industry networks. We believe we can build businesses which improve outcomes for patients and unlock value for investors.
Indeed in the UK alone, Arix has built a series of strong relationships with universities, among which King’s College, Manchester and Dundee are counted. Whilst two of these institutions are outside the UK’s ‘golden triangle’ of biotech - London, Oxford and Cambridge - they are highly-reputable in the field.
The company boasts an extremely experienced and varied team from a number of backgrounds. It is backed by Welsh entrepreneur Sir Christopher Evans and supported by Franz Humer, the former chairman and chief executive of Swiss pharmaceutical beast Roche. It counts scientists and entrepreneurs in the team, ensuring that they have the best team to identify biotech investment opportunities and build solid relationships. Indeed Fierce Biotech notes that the firm had 452 opportunities in the pipeline as of November 2016.
Looking to the future with a successful float, Arix will look to increase its investment portfolio with the 15 early-stage investments as well as further increasing its number of university partnerships. According to the FT (behind paywall), the group hopes to hold onto the investments until they are either acquired by a bigger company or are ready for their own float.