DJ Completion of sale of VelosBio
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 [1] 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
(GBP138.5 million)[1] to Arix, representing a 12.5x return on its original
investment of $15.0 million (GBP11.8 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.
[ENDS]
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 [2]
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[1] At GBP/USD FX rate of 1.3500
ISIN: GB00BD045XXX
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
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(END) Dow Jones Newswires
December 18, 2020 03:00 ET (08:00 GMT)
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