Arix
Bioscience plc
Update on Imara
proposed initial public offering in the United States
LONDON, 3 March 2020: Arix Bioscience plc (LSE:ARIX)
("Arix"), a global venture capital company focused on investing in
and building breakthrough biotech companies, today notes that Imara
Inc., (“Imara”) has filed an amended registration statement on Form
S-1 with the U.S. Securities and Exchange Commission (the “SEC”)
relating to a proposed initial public offering in the United
States of shares of its common stock.
The registration statement discloses an indicative pricing range
for the proposed offering of $16.00 –
$18.00 per common share. This
would represent an increase in the value of Arix’s current
shareholding in Imara to $21.9 –
$24.6 million (£17.1 – £19.2
million)1, compared to a cost of $15.0 million (£11.7 million)1. The
proposed offering amount specified in the filing is 4,450,000
shares, which at the midpoint of the indicative pricing range would
result in gross proceeds of $75.7
million, not including the underwriters’ option to purchase
additional common shares. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the final size, price or other
terms of the offering.
Arix has indicated an interest in purchasing common shares in
the offering, subject to agreement with the underwriters.
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. These
securities may not be sold, nor may offers to buy be accepted,
prior to the time the registration statement becomes effective.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction. Any offers, solicitations or offers to buy, or any
sales of securities will be made in accordance with the
registration requirements of the Securities Act of 1933, as
amended.
The securities referred to in this release are to be offered
only by means of a prospectus. Copies of the preliminary prospectus
can be obtained from Morgan Stanley, 180 Varick Street, 2nd Floor,
New York, New York 10014,
Attention: Prospectus Dept.; Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717 or by telephone at
(800) 831-9146; or SVB Leerink, One Federal Street, 37th Floor,
Boston, Massachusetts, 02110,
Attention: Syndicate Department, by telephone at (800) 808-7525,
ext. 6132, or by email at syndicate@leerink.com.
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
Mary Clark, Supriya Mathur
+44 (0)203 714 1787
optimum.arix@optimumcomms.com
This announcement includes
information that is inside information as defined in Article 7 of
the Market Abuse Regulation (EU) No.596/2014.The person responsible
for arranging for the release of this announcement on behalf of
Arix Bioscience plc is Robert Lyne,
General Counsel.
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 Imara
Imara Inc. is a clinical-stage biotechnology company dedicated
to developing and commercializing novel therapeutics to treat
patients suffering from rare inherited genetic disorders of
hemoglobin, known as hemoglobinopathies. Imara is currently
advancing IMR-687, a highly selective, potent small molecule
inhibitor of PDE9 that is an oral, once-a-day, potentially
disease-modifying treatment for sickle cell disease and
beta-thalassemia. IMR-687 is being designed to have a multimodal
mechanism of action that acts on red blood cells, white blood
cells, adhesion mediators and other cell types.
[1] At exchange rate on 3 March 2020