REG-Arix Bioscience PLC Portfolio company Disc Medicine raises $157.8 million in public offering

Arix BioscienceAnnouncement

23/06/2023 14:15

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   Arix Bioscience PLC (ARIX)
   Portfolio company Disc Medicine raises $157.8 million in public offering

   23-Jun-2023 / 14:03 GMT/BST

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                              Arix Bioscience plc

                                        

    Portfolio company Disc Medicine raises $157.8 million in public offering

   LONDON, 23 June 2023: Arix Bioscience plc (“Arix” or the “Company”)  (LSE:
   ARIX), a transatlantic  venture capital  company focused  on investing  in
   breakthrough biotechnology companies,  notes that  its portfolio  company,
   Disc Medicine,  today announced  the closing  of its  underwritten  public
   offering of  common stock  and pre-funded  warrants, generating  aggregate
   gross proceeds to Disc Medicine of approximately $157.8 million.

   The public offering comprised the sale of 3,015,919 shares of common stock
   and, in  lieu  of  common  stock  to  certain  investors  that  so  chose,
   pre-funded warrants to purchase  204,081 shares of  its common stock.  The
   shares of common stock sold include 420,000 shares pursuant to the  option
   granted by Disc to the underwriters,  which option was exercised in  full.
   The shares of common stock were sold at a public offering price of  $49.00
   per share, and  the pre-funded  warrants were  sold at  a public  offering
   price of $48.9999 per pre-funded  warrant, which represents the per  share
   public offering price  for the  common stock  less the  $0.0001 per  share
   exercise price for each such pre-funded warrant.

   Disc will use the funds for  research and the clinical development of  its
   current or additional product candidates,  as well as for working  capital
   and other general corporate purposes.

   Following the fundraise, Arix’s percentage  holding has been diluted  from
   3.1% to 2.7%.  The holding  value will continue  to be  determined by  the
   market price of Disc Medicine’s shares which has performed strongly  since
   its reverse merger at the end of 2022.

   Robert Lyne, CEO  of Arix  Bioscience, said:  “Disc Medicine  has built  a
   platform around a  world class management  team and a  pipeline of  assets
   that  address  an  underserved  need  in  the  treatment  of  haematologic
   diseases. Following the recently announced Phase 2 data from the company’s
   bitopertin programme, the success of  the Disc fundraising in the  current
   macro environment  is a  validation  of our  strategy  to back  the  major
   biotech companies of tomorrow. All of this has been achieved in less  than
   two years since our initial investment.”

   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 Closing of Public Offering of Common Stock and
     Pre-Funded Warrants Including Full Exercise of Underwriters’ Option to
                           Purchase Additional Shares

    

   WATERTOWN, Mass., June 22, 2023 (GLOBE NEWSWIRE) -- Disc Medicine, Inc.
   (NASDAQ: IRON) (Disc), a clinical-stage biopharmaceutical company focused
   on the discovery, development, and commercialization of novel treatments
   for patients suffering from serious hematologic diseases, today announced
   the closing of its underwritten public offering of 3,015,919 shares of its
   common stock and, in lieu of common stock to certain investors that so
   chose, pre-funded warrants to purchase 204,081 shares of its common stock.
   The shares of common stock sold include 420,000 shares pursuant to the
   option granted by Disc to the underwriters, which option was exercised in
   full. The shares of common stock were sold at a public offering price of
   $49.00 per share, and the pre-funded warrants were sold at a public
   offering price of $48.9999 per pre-funded warrant, which represents the
   per share public offering price for the common stock less the $0.0001 per
   share exercise price for each such pre-funded warrant. The aggregate gross
   proceeds to Disc from this offering were approximately $157.8 million,
   before deducting underwriting discounts and commissions and other
   estimated offering expenses, excluding the exercise of any pre-funded
   warrants. All of the securities sold in the offering were offered by Disc.

    

   Disc intends to use the net proceeds from the offering to fund research
   and clinical development of its current or additional product candidates,
   as well as for working capital and other general corporate purposes.

   Morgan Stanley, SVB Securities, Stifel and BMO Capital Markets acted as
   joint book-running managers for the offering. Wedbush PacGrow acted as
   lead manager for the offering.  

    

   The securities described above were offered by Disc pursuant to a shelf
   registration statement on Form S-3 (No. 333-269272) that was declared
   effective by the Securities and Exchange Commission (SEC) on January 24,
   2023. This offering was made only by means of a prospectus and prospectus
   supplement that form a part of the registration statement. A final
   prospectus supplement and accompanying prospectus related to the offering
   has been filed with the SEC and is available on the SEC’s website at
   www.sec.gov. Copies of the final prospectus supplement and the
   accompanying prospectus relating to this offering may also be obtained, by
   contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department,
   180 Varick Street, 2nd Floor, New York, New York 10014; SVB Securities
   LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston,
   Massachusetts 02109, telephone: 1 (800) 808-7525 ext. 6105, or by emailing
   syndicate@svbsecurities.com; Stifel, Nicolaus & Company, Incorporated,
   Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco,
   California 94104, telephone: (415) 364‐2720 or by emailing
   syndprospectus@stifel.com; or BMO Capital Markets Corp., Attention: Equity
   Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, New York
   10036, telephone: (212) 702-1101, or by emailing  5 bmoprospectus@bmo.com.

    

   This press release does 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 jurisdiction in which such offer, solicitation
   or sale would be unlawful prior to registration or qualification under the
   securities laws of that state or jurisdiction.

   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, potentially 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.

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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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.:   253188
   EQS News ID:    1664693


    
   End of Announcement EQS News Service

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