DJ Arix Bioscience participates in USD90 million Series B financing for Disc Medicine
Arix Bioscience PLC (ARIX) Arix Bioscience participates in USD90 million Series B financing for Disc Medicine 02-Sep-2021 / 11:20 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 participates in USD90 million Series B financing for Disc Medicine
-- Arix announces investment in a new portfolio company focused on hematology, Disc Medicine
-- Series B proceeds will enable Disc Medicine to advance its clinical programmes across multiplehematologic diseases
-- Arix Managing Director Mark Chin will join Disc Medicine's Board of Directors
-- Arix joins financing round led by OrbiMed and syndicate of leading global biotech investors
LONDON, 2 SEPTEMBER 2021: Arix Bioscience plc ("Arix" or "the Company"), a global venture capital company focused on investing in and building breakthrough biotech companies, today announced that it has invested in Disc Medicine ("Disc"), a clinical-stage company focused on developing novel therapies to treat serious and debilitating hematologic disorders. As part of the financing, Arix has committed to invest USD11 million (GBP8 million[1]). Arix's Managing Director Mark Chin will join Disc Medicine's Board of Directors.
Based in Boston, MA, Disc Medicine has built a portfolio of first-in-class therapeutic candidates with the potential to address a spectrum of hematologic diseases, ranging from severe orphan conditions to widely prevalent conditions. The financing was led by OrbiMed and included new investors Janus Henderson Investors, 5AM Ventures, Rock Springs Capital and others as well as existing shareholders Atlas Venture, Novo Holdings, Access Biotechnology. Disc Medicine will use the proceeds from the financing to advance multiple programmes in Disc's hematology pipeline into phase 2 development.
Mark Chin, Managing Director at Arix and Board Director at Disc Medicine, commented:
"Arix is delighted to participate in this financing for Disc Medicine, which is in line with our strategy of backing high potential biotech companies developing innovative treatments for serious unmet medical needs. With our strong balance sheet which has been bolstered by significant realisations, we are actively investing into the major biotech players of tomorrow. The field of hematology spans an enormous range of diseases but remains significantly underserved. Disc Medicine has built a platform around a world class management team and a pipeline of assets with compelling biology and strong validation to meet this need. I'm excited to join the board and be a part of the company's future growth and success."
John Quisel, Chief Executive Officer of Disc Medicine commented:
"This financing will fuel the next stage of our company's growth as we advance multiple programs into patient studies next year. I'm delighted to have Arix's support in this round and want to extend a warm welcome to Mark as he joins the Disc Board. I'm looking forward to working together to make an impact on the lives of patients."
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For more information on Arix, please contact:
Arix Bioscience plc
+44 (0)20 7290 1050
ir@arixbioscience.com
Optimum Strategic Communications
Mary Clark, Manel Mateus, Vici Rabbetts
+44 (0)20 8078 4357
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
About Disc Medicine
Disc Medicine is a clinical-stage biopharmaceutical company that is dedicated to transforming the lives of patients with hematologic disorders. Disc is building a unique portfolio of innovative, first-in-class therapeutic candidates based on fundamental pathways of red blood cell biology. Disc is committed to building a brighter future for patients who suffer from hematologic disease, ranging from severe orphan conditions to widely prevalent diseases. For more information, please visit www.discmedicine.com.
[1] At exchange rate on 31 August 2021 (GBP/USD 1.37676)
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ISIN: GB00BD045071 Category Code: MSCM 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.: 121334 EQS News ID: 1230819 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
September 02, 2021 06:20 ET (10:20 GMT)
