REG-Arix Bioscience PLC Portfolio company Disc Medicine announces $62.5 million financing

Arix BioscienceAnnouncement

14/02/2023 18:30

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   Arix Bioscience PLC (ARIX)
   Portfolio company Disc Medicine announces $62.5 million financing

   14-Feb-2023 / 18:18 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

                                        

       Portfolio company Disc Medicine announces $62.5 million financing

   LONDON, 14 February 2023:  Arix Bioscience plc  (“Arix” or the  “Company”)
   (LSE: ARIX),  a global  venture capital  company focused  on investing  in
   breakthrough biotechnology companies,  notes that  its portfolio  company,
   Disc Medicine, today announced  a $62.5 million  financing to advance  its
   portfolio of novel haematology programmes. 

   The financing was led by Bain  Capital Life Sciences, who contributed  $50
   million, with participation from existing investors, Access  Biotechnology
   and OrbiMed.

   The  announcement  can  be  accessed   on  Disc  Medicine’s  website   at:
    1 https://www.discmedicine.com/ and  the full  text of  the  announcement
   from the company is contained below.

    

                                      ENDS 

    

   Enquiries

   For more information on Arix, please contact:

    

   Arix Bioscience plc

   +44 (0)20 7290 1050

   ir 2 @arixbioscience.com

    

   Powerscourt Group

   Sarah MacLeod, Ibrahim Khalil, Nick Johnson

   +44 (0)20 7250 1446

    3 arix@powerscourt-group.com

    

   About Arix Bioscience plc

   Arix Bioscience  plc  is  a  global venture  capital  company  focused  on
   investing in  breakthrough  biotechnology  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

    
    

                          Disc Medicine Press Release:

                                        

    Disc Medicine Announces $62.5 Million Financing led by Bain Capital Life
           Sciences to Advance Portfolio of Novel Hematology Programs

    

   WATERTOWN, Mass., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Disc Medicine, Inc.
   (NASDAQ: IRON) a clinical-stage biopharmaceutical company focused on the
   discovery, development and commercialization of novel treatments for
   patients suffering from serious hematologic diseases, today announced it
   has entered into a securities purchase agreement with certain investors
   resulting in an aggregate $62.5 million in gross proceeds through a
   registered direct offering. The financing was led by Bain Capital Life
   Sciences, who contributed $50 million, with participation from existing
   investors, Access Biotechnology and OrbiMed.

    

   The financing includes 1,488,166 shares of the Company's common stock at a
   price of $23.00 per share and pre-funded warrants to purchase up to an
   aggregate of 1,229,224 shares of common stock, at a purchase price of
   $22.9999, which represents the per share offering price for the common
   stock less the $0.0001 exercise price for each pre-funded warrant. The
   offering is expected to close on or about February 15, 2023, subject to
   customary closing conditions.

    

   The shares of common stock and pre-funded warrants were offered pursuant
   to a shelf registration statement on Form S-3 (File No. 333-269272) that
   was previously filed with the U.S. Securities and Exchange Commission (the
   “SEC”) on January 18, 2023, and declared effective by the SEC on January
   18, 2023. A final prospectus supplement, which contains additional
   information relating to the offering, has been filed with the SEC and is
   available on the SEC’s website at  5 www.sec.gov.

    

   “We are delighted to welcome Bain Capital Life Sciences as an investor
   during a transformational time for Disc. Our pipeline of three
   clinical-stage programs, each with therapeutic potential in a range of
   indications, is expected to provide a series of important clinical trial
   read-outs beginning mid-year,” said John Quisel, J.D., Ph.D., Chief
   Executive Officer and President of Disc. “This investment adds to the
   financial strength of the company and will enable us to pursue the
   development of our programs with confidence as we advance toward phase 2
   data.”

    

   “We are thrilled to support Disc in its vision to build a leading
   hematology company and believe the Company’s unique approach of targeting
   heme synthesis and iron metabolism addresses fundamental processes of red
   blood cell development,” said Ricky Sun, PhD, Partner at Bain Capital Life
   Sciences. “We look forward to supporting the Company as the data from
   programs mature and Disc looks towards its next phase of growth.”

   This investment will primarily support development of Disc’s
   clinical-stage pipeline including:

    

     • Bitopertin (heme synthesis): a first-in-class, investigational, orally
       administered inhibitor of glycine transporter 1 (GlyT1) that is
       designed to modulate heme biosynthesis. It is currently being studied
       in patients with erythropoietic protoporphyria (EPP) in the ongoing
       phase 2 BEACON and AURORA clinical trials. Disc expects to initiate a
       separate trial in Diamond-Blackfan Anemia (DBA) patients in the first
       half of 2023. Studies in additional indications are being planned.
     • DISC-0974 (hepcidin suppression): a first-in-class, investigational,
       anti-hemojuvelin (HJV) monoclonal antibody designed to suppress
       hepcidin production and increase serum iron to enable erythropoiesis.
       It is currently being studied in an ongoing phase 1b/2 clinical trial
       in myelofibrosis patients with anemia. A separate trial in patients
       with anemia of chronic kidney disease (CKD) not receiving dialysis is
       expected to initiate in the first half of 2023 and studies in other
       forms of anemia of inflammation are being planned.
     • MWTX-003 (hepcidin induction): a first-in-class, investigational,
       anti-TMPRSS6 (also known as Matriptase-2) monoclonal antibody designed
       to increase hepcidin production and suppress serum iron. An IND has
       been accepted by the FDA and a phase 1 clinical trial of MWTX-003 in
       healthy volunteers are expected to initiate in 2023. Disc plans to
       develop MWTX-003 as a treatment for polycythemia vera and other
       indications.

    

   About Disc Medicine

   Disc Medicine (NASDAQ:IRON) is a clinical-stage biopharmaceutical company
   committed to discovering, developing, and commercializing novel treatments
   for patients who suffer from serious hematologic diseases. We are building
   a portfolio of innovative, first-in-class therapeutic candidates that aim
   to address a wide spectrum of hematologic diseases by targeting
   fundamental biological pathways of red blood cell biology, specifically
   heme biosynthesis and iron homeostasis. For more information, please
   visit  6 www.discmedicine.com.

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   ISIN:           GB00BD045071
   Category Code:  PFU
   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.:   223166
   EQS News ID:    1559833


    
   End of Announcement EQS News Service

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