Artios completes £65m Series B investment round

10th August 2018

  • Arix interest increased to £15.3 million ($19.7 million1), becoming largest shareholder in Artios
  • Supporting proven management team in accelerating development of next generation DNA Damage Response (DDR) pipeline

LONDON, 10 August, 2018: Arix Bioscience plc (“Arix”, LSE: ARIX) a global healthcare and life science company supporting medical innovation, today announces that its Group Business Artios Pharma Limited (“Artios”), a leading DNA Damage Response (DDR) company developing innovative treatments for cancer, has completed an oversubscribed £65 million ($84 million1) Series B financing (the “Financing”) following strong interest from investors.

As part of the Financing, Arix:

  • Committed to invest £8 million ($10.3 million1) over two tranches;
  • Completed its remaining £1.5 million ($1.9 million1) Series A commitment; and
  • Invested a further £0.6 million ($0.8 million1) by purchasing a stake from an existing shareholder.

Following this investment, Arix becomes the largest shareholder in Artios, retaining a 12.4% stake on a fully diluted basis. Arix’s Jonathan Tobin will continue to serve on the Artios Board.

The financing recognised a 26% uplift in the book value of Arix’s Series A investment in Artios, with Arix’s total interest in Artios increasing to £15.3 million from £5.1 million.

The new funds will enable Artios to advance its portfolio of first-in-class, small molecule DDR programmes, including its lead programme targeting DNA polymerase theta (Polθ), through clinical proof of concept trials.

New global institutional investors Andera Partners, Life Sciences Partners, Pfizer Ventures and Novartis Venture Fund joined the Series B round. In addition to Arix, Artios’ existing shareholders SV Health Investors, M Ventures, IP Group plc and AbbVie Ventures also participated in the round.

“Artios is actively developing a pipeline of highly promising, first-in-class DDR therapies which have the potential to bring real impact to cancer patients. We are delighted to support this proven management team, which during their tenure at KuDOS (successfully sold to AstraZeneca) played a key role in the discovery and early development of olaparib, the first approved DDR therapy and PARP inhibitor, now used to treat ovarian and breast cancer, creating a billion dollar market. As early investors in Artios, we are excited to continue working with the team and this group of renowned investors to build a world leading DDR company and create significant value for both patients and investors.”

Joe Anderson, Chief Executive Officer of Arix Bioscience plc

“Arix is focused on supporting innovation and creating and building world class companies. They were instrumental in putting together this stellar investor syndicate and we value their continued support as we progress the development of our novel DDR programmes.”

Niall Martin, Chief Executive Officer of Artios