REG-Arix Bioscience PLC Arix Bioscience PLC: Blackstone Life Sciences to invest up to $250 million in Autolus Therapeutics to develop obe-cel in adult Acute Lymphoblastic Leukemia (ALL) and advance broader platform
08/11/2021 13:05
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Arix Bioscience PLC (ARIX)
Arix Bioscience PLC: Blackstone Life Sciences to invest up to $250 million
in Autolus Therapeutics to develop obe-cel in adult Acute Lymphoblastic
Leukemia (ALL) and advance broader platform
08-Nov-2021 / 13:00 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
Blackstone Life Sciences to invest up to $250 million in Autolus
Therapeutics to develop obe-cel in adult Acute Lymphoblastic Leukemia
(ALL) and advance broader platform
LONDON, 08 November 2021: Arix Bioscience plc ("Arix", LSE: ARIX), a
global venture capital company focused on investing in and building
breakthrough biotech companies, notes that its portfolio company Autolus
Therapeutics plc (Nasdaq: AUTL) (Autolus), a clinical-stage
biopharmaceutical company developing next-generation programmed T cell
therapies, has entered into a strategic collaboration and financing
agreement with Blackstone (NYSE: BX) under which funds managed by
Blackstone Life Sciences ("Blackstone") will provide up to $250 million in
equity and product financing to support Autolus' advancement of its CD19
CAR T cell investigational therapy product candidate, obecabtagene
autoleucel (obe-cel), as well as next generation product therapies of
obe-cel in B-cell malignancies.
As part of this $250 million transaction, Blackstone is committing to
invest $150 million in product financing to support obe-cel development
and commercialization, with $50 million payable upon closing of the
transaction and the remainder payable based on certain development and
regulatory achievements. Blackstone has also agreed to purchase $100
million of Autolus' American Depositary Shares (ADS) in a private
placement, which is subject to customary closing conditions. In connection
with the collaboration, Blackstone received the right to nominate a member
to Autolus' board of directors.
Arix's existing holding in Autolus is 0.8% and was valued at £2.6 million
at 30 June 2021.
The announcement can be accessed on the Autolus website
at: 1 https://www.autolus.com/investor-relations/ and the full text of
the announcement from Autolus is contained below.
ENDS
For more information on Arix, please contact:
Arix Bioscience plc
+44 (0)20 7290 1050
2 ir@arixbioscience.com
Optimum Strategic Communications
Mary Clark, Manel Mateus
+44 (0)20 3922 1906
3 optimum.arix@optimumcomms.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. 4 www.arixbioscience.com
AUTOLUS THERAPEUTICS PRESS RELEASE
Blackstone Life Sciences to invest up to $250 million in Autolus
Therapeutics to develop obe-cel in adult Acute Lymphoblastic Leukemia
(ALL) and advance broader platform
November 8, 2021 at 2:00 AM EST
- One of the largest private financings of a UK biotech company, and the
largest from a single source - continues Blackstone conviction in the
country
- Durability and favorable toxicity profile of obe-cel supports its
potential as the first stand-alone therapy in adult ALL with curative
potential in a last line setting
- Blackstone strategic financing to enable Autolus to complete clinical
development of obe-cel in its first indication of relapsed / refractory
adult ALL and to support initial pre-approval commercial activities
LONDON and CAMBRIDGE, Mass., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Autolus
Therapeutics plc (Nasdaq: AUTL), a clinical-stage biopharmaceutical
company developing next-generation programmed T cell therapies, and
Blackstone Life Sciences today announced that the two companies have
entered into a strategic collaboration and financing agreement under which
funds managed by Blackstone (NYSE: BX) will provide up to $250 million in
equity and product financing to support Autolus' advancement of its CD19
CAR T cell investigational therapy product candidate, obecabtagene
autoleucel (obe-cel), as well as next generation product therapies of
obe-cel in B-cell malignancies.
As part of this $250 million transaction, Blackstone is committing to
invest $150 million in product financing to support obe-cel development
and commercialization, with $50 million payable upon closing of the
transaction and the remainder payable based on certain development and
regulatory achievements. Blackstone has also agreed to purchase $100
million of Autolus' American Depositary Shares (ADS) in a private
placement, which is subject to customary closing conditions. In connection
with the collaboration, Blackstone received the right to nominate a member
to Autolus' board of directors.
The transaction continues Blackstone's commitment to the UK economy which
has seen the firm invest more than $18 billion across 44 investments
headquartered in UK. These investments support more than 27,000 direct
jobs and help make Blackstone the UK's biggest foreign investor over the
past 10 years.
"Autolus is a world-class company with an innovative platform and the
potential to deliver best-in-class, lifesaving treatments to patients
suffering from cancer," said Dr. Nicholas Galakatos, Global Head of
Blackstone Life Sciences. "Our investment in these next generation cell
therapies exemplify our conviction in the quality and promise of the life
sciences sector in the UK. We look forward to building on this investment
in the years to come."
"We welcome Blackstone Life Sciences to join our drive to change the
outlook for leukemia and lymphoma patients, notably those with acute
lymphoblastic leukemia. Blackstone's investment and expertise will support
the development and preparation for commercialization of obe-cel and put
the program and the Company on a strong financial footing as we are
approaching the read-out from the potentially pivotal FELIX clinical trial
during the course of 2022," said Dr. Christian Itin, Chief Executive
Officer of Autolus.
"We are excited to collaborate with Autolus in support of their innovative
platform pursuing safer, more durable, therapies with the potential to be
lifesaving options for patients with ALL and beyond. We see a significant
opportunity to improve the outlook for cancer patients who are facing a
devastating course of their disease," said Nicholas Simon, Senior Managing
Director of Blackstone Life Sciences. "This investment continues to build
on our conviction in not just innovative cell and gene therapies, but also
supporting innovation in the United Kingdom and Europe broadly."
UK Science Minister George Freeman said: "This is another vote of
confidence in the quality of life science in the UK, reinforcing our
reputation as a world leader in discovering new cures for currently
untreatable diseases like Autolus' T cell therapy drugs for leukemia. Big
investments like these give real hope to those suffering from diseases
like leukemia - and create high skill jobs & opportunities in the
development and manufacturing of treatments to help develop and boost our
life science clusters all around the UK."
Autolus recently announced plans to build a dedicated manufacturing
facility in Stevenage, UK to help secure global commercial launch capacity
for obe-cel with a 70,000 square foot building. The ground-breaking
ceremony for this new facility is due to be held today, with building
works commencing imminently.
Moelis & Company LLC acted as financial advisor. Cooley LLP and Cooley
(UK) LLP acted as legal advisor to Autolus, and Goodwin Procter LLP acted
as legal advisor to Blackstone.
About the Transaction
The strategic financing collaboration by Autolus and Blackstone Life
Sciences is expected to support the development and preparation for
commercialization of Autolus' product candidate, obe-cel. As part of this
$250 million transaction, Blackstone is committing to invest an aggregate
of $150 million in product financing to support Autolus' development and
potential commercialization of obe-cel, with $50 million payable upon
closing of the transaction and the remainder (up to $100 million) payable
based on certain development and regulatory achievements. In return for
this strategic investment, Autolus has agreed to pay Blackstone a capped
single digit royalty plus milestone payments based on net sales of
obe‐cel. In addition, Blackstone will receive a warrant to purchase up to
$24 million worth of Autolus ADSs at an exercise price premium to market.
Blackstone has also agreed to make a $100 million equity investment in
Autolus which is expected to close on or about November 12, 2021, subject
to customary closing conditions. In connection with the collaboration,
Blackstone received the right to nominate a member to Autolus' board of
directors.
About Autolus Therapeutics plc
Autolus is a clinical-stage biopharmaceutical company developing
next-generation, programmed T cell therapies for the treatment of cancer.
Using a broad suite of proprietary and modular T cell programming
technologies, the Company is engineering precisely targeted, controlled
and highly active T cell therapies that are designed to better recognize
cancer cells, break down their defense mechanisms and eliminate these
cells. Autolus has a pipeline of product candidates in development for the
treatment of hematological malignancies and solid tumors. For more
information, please visit www.autolus.com.
About obe-cel (obecabtagene autoleucel)
Obe-cel is a CD19 CAR T cell investigational therapy designed to overcome
the limitations in clinical activity and safety compared to current CD19
CAR T cell therapies. Designed to have a fast target binding off-rate to
minimize excessive activation of the programmed T cells, obe-cel may
reduce toxicity and be less prone to T cell exhaustion, which could
enhance persistence and improve the ability of the programmed T cells to
engage in serial killing of target cancer cells. Obe-cel is currently
being evaluated in a potentially pivotal Phase 1b/2 clinical trial for the
treatment of adult ALL, referred to as the FELIX clinical trial. Also, in
collaboration with Autolus' academic partner, UCL, obe-cel is currently
being evaluated in a Phase 1 clinical trial in B-NHL.
About obe-cel FELIX clinical trial
Autolus' Phase 1b/2 clinical trial of obe-cel, or the FELIX clinical
trial, is enrolling adult patients with relapsed / refractory ALL. The
trial had a short Phase 1b component prior to proceeding to a single arm,
Phase 2 clinical trial. The primary endpoint is overall response rate, and
the key secondary endpoints include duration of response, MRD negative CR
rate and safety. The trial is designed to enroll approximately 100
patients across 30 of the leading academic and non-academic centers in the
United States, United Kingdom and Europe. NCT04404660
About Blackstone Life Sciences
Blackstone Life Sciences is an industry-leading private investment
platform with capabilities to invest across the life cycle of companies
and products within the key life science sectors. By combining scale
investments and hands-on operational leadership, Blackstone Life Sciences
helps bring to market promising new medicines and medical technologies
that improve patients' lives. More information is provided at
https://www.blackstone.com/our-businesses/life-sciences/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are statements that are not
historical facts, and in some cases can be identified by terms such as
"may," "will," "could," "expects," "plans," "anticipates," and "believes."
These statements include, but are not limited to, statements regarding the
collaboration between Autolus and Blackstone; the future clinical
development, efficacy, safety and therapeutic potential of obe-cel,
including progress, expectations as to the reporting of data, conduct and
timing and potential future clinical activity; the ability of the FELIX
trial to be a registrational trial; the receipt of regulatory approval
from the U.S. Food and Drug Administration for obe-cel; the discovery,
development and potential commercialization of potential product
candidates including obe-cel using Autolus' technology and under the
collaboration agreement; the therapeutic potential for Autolus in next
generation product developments of obe-cel in B-cell malignancies; the
potential and timing to receive milestone payments and pay royalties under
the strategic collaboration; expectations regarding the expected use of
proceeds from the collaboration and financing arrangement with Blackstone;
and the completion of the offering of Autolus securities. Any
forward-looking statements are based on management's current views and
assumptions and involve risks and uncertainties that could cause actual
results, performance, or events to differ materially from those expressed
or implied in such statements. These risks and uncertainties include, but
are not limited to, the risks that Autolus' preclinical or clinical
programs do not advance or result in approved products on a timely or cost
effective basis or at all; the results of early clinical trials are not
always being predictive of future results; the cost, timing and results of
clinical trials; that many product candidates do not become approved drugs
on a timely or cost effective basis or at all; the ability to enroll
patients in clinical trials; possible safety and efficacy concerns; and
the impact of the ongoing COVID-19 pandemic on Autolus' business. For a
discussion of other risks and uncertainties, and other important factors,
any of which could cause Autolus' actual results to differ from those
contained in the forward-looking statements, see the section titled "Risk
Factors" in Autolus' Annual Report on Form 20-F filed with the Securities
and Exchange Commission on March 4, 2021, as well as discussions of
potential risks, uncertainties, and other important factors in Autolus'
subsequent filings with the Securities and Exchange Commission including
its Reports on Form 6-K. All information in this press release is as of
the date of the release, and Autolus undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future events, or otherwise, except as required by law.
══════════════════════════════════════════════════════════════════════════
ISIN: GB00BD045071
Category Code: MSCM
TIDM: ARIX
LEI Code: 213800OVT3AHQCXNIX43
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 126264
EQS News ID: 1247018
End of Announcement EQS News Service
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