LONDON, 8 February 2019

• Fourth public listing of an Arix company, three years after Arix was founded
• Arix agrees to invest $6.0 million (£4.6 million)[1] in the IPO, to give a new ownership stake of 12.1% in Harpoon
• The new total value of Arix’s shareholding in Harpoon is £31.3 million; this includes a fair value uplift of £6.2 million to the last disclosed value of £20.2 million

Arix Bioscience plc (LSE:ARIX) ("Arix"), a global healthcare and life science company supporting medical innovation today notes one of its portfolio companies, Harpoon Therapeutics, Inc. (“Harpoon”) has announced the pricing of its initial public offering of 5,400,000 shares of common stock at a public offering price of $14.00 per share for aggregate gross proceeds of approximately $75.6 million. In addition, Harpoon has granted the underwriters a 30-day option to purchase up to an additional 810,000 shares of common stock. All of the shares are being offered by Harpoon. Harpoon’s common stock is expected to begin trading on The Nasdaq Global Select Market on 8 February 2019 under the ticker symbol “HARP”.

The IPO results in an increase in the value of Arix’s existing holding in Harpoon to £26.7 million; a £6.2 million uplift to the last disclosed value of £20.2 million. Additionally, Arix has agreed to invest $6.0 million (£4.6 million) in the IPO, (amounting to 2,892,119 shares of common stock), giving a total new valuation of £31.3 million and a new ownership stake in Harpoon of 12.1%. Arix’s Mark Chin will continue to serve on the Harpoon Board.

“Harpoon has a novel, T-cell engager platform which we believe could be instrumental to the discovery and development of important new therapeutics in oncology. Coupled with its scientific expertise and strong management team, we believe Harpoon is well-positioned to play a significant role in immuno-oncology. As early investors in Harpoon, we are excited to see the potential of the company continue to grow.”

Joe Anderson, CIO of Arix

[1] All amounts that shown are at an exchange rate of GBP 1.0000 : USD 1.2950
The above assumes formal completion of the Harpoon IPO

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on 7 February, 2019. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146 ; or SVB Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132, or by e-mail at syndicate@svbleerink.com.