REG-Arix Bioscience plc: LogicBio prices Nasdaq IPO

Arix BioscienceAnnouncement

19/10/2018 07:05

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF THE EU
MARKET ABUSE REGULATION NO.596/2014

Arix Bioscience plc

LogicBio prices Nasdaq IPO

LONDON, 19 October 2018
*
Third public listing of an Arix company, three years after LogicBio inception
*
Arix invests $7.0 million (£5.4 million) in the IPO to retain a stake of
13.5% in LogicBio
*
The new total value of Arix’s shareholding in LogicBio is £22.9 million;
this represents a gain of £12.6 million on total cash invested in LogicBio by
Arix

Arix Bioscience plc (LSE:ARIX) ("Arix"), a global healthcare and life science
company supporting medical innovation notes one of its Group Businesses,
LogicBio Therapeutics, Inc (“LogicBio”) has announced the pricing of its
initial public offering of 7,000,000 shares of common stock at a public
offering price of $10.00 per share for aggregate gross proceeds of  $70.0
million. All of the shares are being offered by LogicBio. LogicBio’s common
stock is expected to begin trading on The Nasdaq Global Market on 19 October
2018 under the ticker symbol “LOGC”.

The IPO resulted in an increase in the value of Arix’s initial investment in
LogicBio to £17.5 million; a £12.6 million uplift to the last disclosed
value of £4.9m 1 . Additionally, Arix has agreed to invest $7.0 million
(£5.4 million) in the IPO to retain a total stake of 13.5% in LogicBio
(amounting to 2,979,023 shares of common stock), giving a total new valuation
of £22.9 million at the close of business on 18 October 2018.

LogicBio expects to use the net proceeds from the IPO for ongoing development
of its lead product candidate, for discovery and preclinical development of
additional product candidates using its GeneRide™ platform and the remainder
for general corporate purposes.

Joe Anderson, CIO of Arix, commented:

“Gene therapy offers great promise for tackling rare diseases and the
science is advancing rapidly. Genetic disease in early childhood presents a
particular set of challenges, which we believe LogicBio has the potential to
address with its GeneRide technology. We continue to work with the company as
it advances towards the clinic with potential breakthrough treatments for
patients."

 Arix valuation at 30 June 2018  £4.9m           
 Valuation uplift                £12.6m          
 Participation in IPO            £5.4m ($7.0m)   
 Total Arix valuation            £22.9m          

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 October
18, 2018. The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at
prospectus_department@jefferies.com; Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 1717, by telephone
at 888-603-5847 or by email at barclaysprospectus@broadridge.com;  William
Blair & Company, L.L.C. Attention: Prospectus Department, 150 North Riverside
Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687, or by email at
prospectus@williamblair.com.

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

Burns McClellan (US Media & IR Enquiries)

Bill Slattery Jr., Nancie Steinberg

+1 212-213-0006

arix@burnsmc.com

About Arix Bioscience plc

Arix Bioscience plc is a global healthcare and life science company supporting
medical innovation. Headquartered in London and with an office in New York,
Arix Bioscience sources, finances and builds world class healthcare and life
science businesses addressing medical innovation at all stages of development.
Operations are supported by privileged access to breakthrough academic science
and strategic relationships with leading research accelerators and global
pharmaceutical companies.

Arix Bioscience plc is listed on the Main Market of the London Stock Exchange.
For further information, please visit www.arixbioscience.com

About LogicBio Therapeutics

LogicBio Therapeutics is a genome editing company focused on developing
medicines to durably treat rare diseases in patients with significant unmet
medical needs using GeneRide™, its proprietary technology platform.
GeneRide™ enables the site-specific integration of a therapeutic transgene,
in a nuclease-free and promotorless approach by relying on the native process
of homologous recombination to drive lifelong expression. Headquartered in
Cambridge, Massachusetts, LogicBio is committed to developing medicines that
will transform the lives of pediatric patients and their families.

 1  Compared to the 30 June 2018 sterling holding value

All numbers quoted are at the prevailing exchange rate on 18 October 2018



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