Arix Bioscience PLC (ARIX) Arix Bioscience PLC: Depixus raises
EUR30.6M (GBP26.1 million) in Series A Financing 15-Dec-2021 /
08:14 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
Depixus raises EUR30.6M (GBP26.1 million) in Series A
Financing
LONDON, UK, 15th December 2021: Arix Bioscience plc ("Arix",
LSE: ARIX), a global venture capital company focused on investing
in and building breakthrough biotech companies, today notes that
its portfolio company Depixus has successfully completed its
oversubscribed Series A financing which raised EUR30.6 million
(GBP26.1 million[1]).
Depixus is a biotechnology company developing a unique
technology for the fast, accurate, and straightforward extraction
of multiomic information from DNA, RNA, and proteins. Funds from
the financing will enable Depixus to further develop its
proprietary MAGNA(TM) instrument system, workflows, and reagents
towards commercial launch.
Having participated in the first tranche of the Series A
financing in February 2021, investing EUR2.7 million (GBP2.4
million[2]), Arix now has a 14.2% fully diluted ownership stake in
Depixus.
Mark Chin, Managing Director at Arix and Depixus Board Director,
commented: "This is an exciting time for Depixus as it moves
forward with its goal to commercialise a highly innovative
technology platform for the fast, accurate, and inexpensive
extraction of genetic and epigenetic information from single
molecules of DNA and RNA. Arix is committed to building
breakthrough biotech companies, and it is a privilege to work
alongside such a distinguished team of entrepreneurs and
co-investors."
The announcement can be accessed on Depixus' website at:
www.depixus.com and full text of announcement from Depixus is
contained below.
[ENDS]
For more information on Arix, please contact:
Arix Bioscience plc
+44 (0)20 7290 1050
ir@arixbioscience.com
Powerscourt Group
Sarah MacLeod, Ibrahim Khalil
+44 (0)20 7250 1446
arix@powerscourt-group.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 Depixus(R) and MAGNA(TM)
Depixus(R) is a fast-growing innovative biotechnology company
based in Paris, France, and Cambridge, UK, developing its
cutting-edge MAGNA(TM) technology to reveal the secrets of the
dynamic genome. The technology is set to transform our
understanding of how genetics is regulated and provide powerful new
insights into the mechanisms of disease.
Depixus(R) is a spin-out from Ecole Normale Supérieure (ENS),
one of the most prestigious 'grandes écoles' in France. The company
has been financed not only through equity investment but also via
numerous grants, including from the EU's Horizon 2020 SME
Instrument and Innovate UK programmes.
The MAGNA(TM) technology is based on an instrument system called
a 'magnetic trap'. Samples of nucleic acid are captured within a
flow cell and then can be analysed at multiple levels of
resolution. To learn more about the way the MAGNA(TM) technology
works and some of the many different assays that can be performed
with the platform, please visit www.depixus.com.
Depixus Raises EUR 30.6M (USD 35.4M) in Series A Financing
-- The financing will support development of a commercial
instrument system based on the company'sproprietary and disruptive
MAGNA(TM) technology.
-- MAGNA(TM) is set to unlock the field of dynamic genomics.
-- Funds raised from a global investor syndicate led by
Lansdowne Partners and Bpifrance and supported byfunds bringing
additional experience in the life science sector.
Paris, France and Cambridge, UK, 15 December 2021: Depixus(R), a
biotechnology company developing a unique technology for the fast,
accurate, and straightforward extraction of multiomic information
from DNA, RNA, and proteins, today announces it has raised EUR 30.6
million in an oversubscribed Series A financing. The funds will be
used to further develop its proprietary MAGNA(TM) instrument
system, workflows, and reagents towards commercial launch. The
round was co-led by Lansdowne Partners and the PSIM Fund operated
by Bpifrance on behalf of the French State, with participation by
Casdin Capital, and existing investors, including Arix Bioscience.
This financing brings the company's total equity and grant funding
to-date to over EUR 41 million (USD 47 million).
With MAGNA(TM), large numbers of individual molecules of DNA and
RNA are captured in their native form, immobilised within a flow
cell, and are then available for repeated interrogations that can
reveal a broad range of features including base modifications,
molecular structure, and interactions with other nucleic acids,
proteins, or drugs. These capabilities unlock previously
unattainable insights into the "dynamic genome" - the layers of
information beyond the four-base coding sequences of DNA and RNA,
that are key to gene expression, regulation, and control.
Detection of abnormal changes in base modification patterning
have been shown to underpin many disease processes. The MAGNA(TM)
technology will greatly accelerate access to this complex layer of
the dynamic genome, opening up significant opportunities in the
earlier detection and improved management of major diseases such as
cancer. Moreover, the way in which nucleic acids, especially RNA,
are folded and structured is also critical to biological
regulation. With MAGNA(TM) these structures can often be revealed
and analysed in detail. MAGNA(TM) therefore has strong potential as
an aid in the discovery of drugs that either disrupt or stabilise
RNA structures - affording opportunities to modulate hitherto
'undruggable' pathological cellular processes.
Gordon Hamilton, CEO and Co-founder of Depixus, commented: "We
are extremely excited by the power of our MAGNA technology to
overcome the current challenges of base modification sequencing and
RNA structural analysis. Our technology looks set to open new
horizons in applications such as biomarker discovery for liquid
biopsy cancer detection, virology, and the development of drugs
targeting RNA.
We are very pleased to attract such a strong group of investors,
which further validates the potential of the MAGNA platform to
transform our understanding of cellular processes. Thanks to the
support from our new and existing investors, we will continue to
recruit additional top talent in France and the UK to further
develop the platform through to commercial launch and beyond."
John Berriman, Chairman of Depixus, said: "Depixus has grown by
leaps and bounds since its inception. We are now confident that
MAGNA instruments will provide unique and economical insights into
the development and treatment of disease.
This is a very exciting time for the Company as it progresses
from pre-commercial research towards the launch of products."
Lachlan MacKinnon, Board member and representative of Lansdowne
commented: "I am truly excited to join the Board of Depixus at this
critical moment in the company's history.
The Depixus technology will enable scientists and biotechnology
companies to move from a world of measuring DNA and RNA as linear,
one-dimensional sequences, to one of dynamic, three-dimensional
objects with many base modifications, at scale.
Having seen the impact of methylation detection on liquid
biopsy, I look forward to the company making sizeable contributions
across the wider dynamic genomics landscape".
Thibaut Roulon, Senior Investment Director at Bpifrance said:
"We are delighted to partner with Lansdowne to support Depixus in
the development of its MAGNA instrumentation system. The company is
a laureate of the final phase of France's Worldwide Innovation
Challenge. Depixus has proven the excellence of its breakthrough
technology for the fast, accurate and straightforward extraction of
information from DNA and RNA molecules beyond their simple
sequence. This opens the door for many applications such as earlier
and more accurate cancer diagnosis."
Following this capital raise, Lachlan MacKinnon and Thibaut
Roulon, will join Mark Chin of Arix Bioscience, Ronald Lindsay,
Steve Allen, Gordon Hamilton, and John Berriman, on the Board of
Directors.
The company is based in Paris, France and Cambridge, UK, and is
actively recruiting top talent to join its team.
Depixus(R) recently announced the publication of a scientific
paper showcasing the MAGNATM capabilities in the peer-reviewed
journal Communications Biology, part of Nature Research journals.
The paper, entitled 'Detection of genetic variation and base
modi?cations at base-pair resolution on both DNA and RNA', can be
freely downloaded here.
For further information, please contact:
Depixus(R)
Gordon Hamilton, CEO
gordon.hamilton@depixus.com
Optimum Strategic Communications
Hollie Vile, Stella Lempidaki, Zoe Bolt
depixus@optimumcomms.com
+44 (0) 20 388 296 21
About Depixus(R) and MAGNA(TM)
Depixus(R) is a fast-growing innovative biotechnology company
based in Paris, France, and Cambridge, UK, developing its
cutting-edge MAGNA(TM) technology to reveal the secrets of the
dynamic genome. The technology is set to transform our
understanding of how genetics is regulated and provide powerful new
insights into the mechanisms of disease.
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