DJ Strategy Implementation Review
Arix Bioscience PLC (ARIX)
Strategy Implementation Review
24-March-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Arix Bioscience plc
("Arix" or "the Company")
Strategy Implementation Review
LONDON, 24 March 2021: The board of Arix (LSE: ARIX), a global venture capital company focused on investing in and
building breakthrough biotech companies, today announces the commencement of a strategy implementation review (the
"Review").
Arix collaborates with exceptional entrepreneurs and provides the capital, expertise and global networks needed to help
accelerate their ideas into important new treatments. As a listed company, Arix is able to bring this exciting growth
phase to a broader range of investors. The Company is committed to its strategy of supporting its current portfolio and
investing in the next wave of opportunities, deploying its GBP174m capital pool. Arix will continue to seek out and
support a mix of late- and early-stage investment opportunities, on an approximate ratio of 2:1 in order to manage risk
and optimise returns.
In 2020 NAV increased by 62% to GBP328m vs the year-end 2023 NAV target of GBP500m, net operating costs reduced by over 35%
and a new Scientific Advisory Board was appointed.
As previously stated, Arix is committed to a programme of stronger corporate governance as well as the expansion of its
investment team in the UK and US to take advantage of a strong pipeline of new opportunities.
The Review will examine:
- Board composition, ensuring that the Company's governance reflects best practice and has the right mix of skills
and experience;
- Executive resourcing, choosing the right mix of skills and experience to deploy capital into the Company's exciting
pipeline of new opportunities; and
- Remuneration structures, enabling Arix to attract and retain the right talent for the business.
As part of the Review, the Company will solicit views from a wide range of stakeholders. This will include a
shareholder consultation to fully understand the views of all shareholders and reflect their wishes as the Company's
owners. This programme of work will be overseen on the Board's behalf by the Company's Senior Independent Director,
Giles Kerr, and has already begun through engagement with the Company's largest shareholder.
The initial findings of the Review will be delivered ahead of the notice to shareholders of the forthcoming AGM, which
is expected to be circulated on or around 23 April.
Commenting on the Review, Arix's Chairman, Naseem Amin, said:
"The Company's founding thesis continues to be sound and has been validated by the VelosBio exit. As a consequence, we
believe it is necessary to accelerate the development of our capabilities to ensure we make the most of the
opportunities before us.
"We aim to report the Review's initial findings in time for the 2021 AGM and welcome constructive engagement from all
those with whom we have a relationship, as we work to ensure Arix offers a high quality platform to identify and
support exciting new biotech opportunities."
[ENDS]
For more information, please contact:
Arix Bioscience plc
Charlotte Parry, Head of Investor Relations
+44 (0)20 7290 1072
charlotte@arixbioscience.com
Montfort Communications
Olly Scott
+44(0)78 1234 5205
Optimum Strategic Communications
Mary Clark, Supriya Mathur, Shabnam Bashir
+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. www.arixbioscience.com
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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.: 96104
EQS News ID: 1177832
End of Announcement EQS News Service
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(END) Dow Jones Newswires
March 24, 2021 03:00 ET (07:00 GMT)
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