REG-Arix Bioscience PLC Arix Bioscience PLC: Arix Bioscience co-leads $31 million Series A financing for new portfolio company Sorriso Pharmaceuticals

Arix BioscienceAnnouncement

22/12/2021 11:10

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   Arix Bioscience PLC (ARIX)
   Arix Bioscience PLC: Arix Bioscience co-leads $31 million Series A
   financing for new portfolio company Sorriso Pharmaceuticals

   22-Dec-2021 / 11:05 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 co-leads $31 million Series A financing for new portfolio
                        company Sorriso Pharmaceuticals

    

     • Arix announces a new portfolio company, Sorriso, with a 26% ownership
       stake
     • Series A proceeds will enable Sorriso Pharmaceuticals to advance its
       lead programme, a treatment for IBD, into clinical trials
     • Arix Managing Director Mark Chin will join the Sorriso Board of
       Directors

   LONDON, UK, 22 December 2021: Arix Bioscience plc ("Arix" or "the
   Company"), a global venture capital company focused on investing in and
   building breakthrough biotech companies, today announces that it has
   co-led a Series A financing in new portfolio company, Sorriso
   Pharmaceuticals, alongside New Enterprise Associates, Inc. As part of the
   financing, Arix has committed $13 million (£9.8 million) for a 26% stake
   on a fully diluted basis. Mark Chin, Managing Director of Arix, will join
   the Sorriso Board of Directors.

   Sorriso Pharmaceuticals is a biotechnology company advancing a pipeline of
   disease-modifying antibodies for  the treatment  of inflammatory  disease,
   including Crohn's  disease and  ulcerative colitis.  The Sorriso  platform
   generates potent antibodies that can be delivered orally and are  designed
   to maintain activity throughout the intestinal system. The lead programme,
   SOR102, is being developed for the treatment of inflammatory bowel disease
   ("IBD"). SOR102  simultaneously inhibits  TNF and  IL-23, two  clinically
   validated drivers of IBD. This unique approach combines the stong clinical
   impact of antibody therapeutics with the benefits of oral  administration,
   resulting in targeted activity,  negligible systemic exposure and  minimal
   immunogenicity.

   Sorriso is led by Ciara Kennedy,  former CEO of Amplyx Pharmaceuticals,  a
   former portfolio company of Arix until its acquisition by Pfizer in  April
   2021. The Series A  financing will enable Sorriso  to advance SOR102  into
   clinical trials and advance its  early stage pipeline through  preclinical
   development.

   Mark Chin, Managing Director at Arix, commented:

   "The ability to modify the course of disease with orally available
   biological treatments has huge implications for inflammatory diseases of
   the gut. In IBD, SOR102 is uniquely positioned as the only
   orally-administered biologic with dual activity against two IBD disease
   drivers, both of which are clinically validated and therefore
   significantly de-risked targets. We are excited  to be supporting a
   management team with whom we have worked successfully in the past to
   realise the potential of Sorriso's platfrom in what is our third addition
   to the Arix portfolio this year."

   Ciara Kennedy PhD, Chief Executive Officer of Sorriso Pharmaceuticals,
   commented:

   "We are delighted that Arix has chosen to co-lead Sorriso's Series A
   financing at this important phase of our journey. Our lead programme
   represents a step change in the treatment of IBD and raises the
   possibility of treatment early in the course of the condition, reducing
   disease progression, improving quality of life and offering significant
   healthcare benefits. I am looking forward to working with Mark and the
   Arix team again as we advance our pipeline of innovative therapies through
   clinical development."

                                      ENDS 

                                        

   For more information on Arix, please contact:

    

   Arix Bioscience plc

   +44 (0)20 7290 1050

    1 ir@arixbioscience.com

    

   Powerscourt Group

   Sarah MacLeod, Ibrahim Khalil

   +44 (0)20 7250 1446

    2 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.  3 www.arixbioscience.com

    

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   ISIN:          GB00BD045071
   Category Code: PFU
   TIDM:          ARIX
   LEI Code:      213800OVT3AHQCXNIX43
   Sequence No.:  131986
   EQS News ID:   1261243


    
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