Arix Bioscience PLC (LON:ARIX) said it had seen a significant uplift in the value of one of its investee companies and updated on the progress of three other drug developers in which it holds interests.
Arix invested £8mln as part of the latest fundraiser, paid the remaining £1.5mln tranche from the Series A and bought stock worth £600,000 from a fellow shareholder.
It now has a 12.4% stake in Artios, which is developing DNA damage response technology to treat cancer.
In a second announcement, Arix said three other investee businesses were making progress in the clinic.
Iterum Therapeutics has kicked off a Phase III trial of a next-generation antibiotic targeting multi-drug resistant pathogens. It will be used to treat urinary tract infections.
Harpoon Therapeutics, meanwhile, has begun a Phase I study of an immuno-oncology drug for men with metastatic prostate cancer.
And finally, stock market-listed Verona Pharma PLC (LON:VRP) has begun a Phase II trial of a drug that will be given to people with COPD, a serious lung disease. The initial read-out from this particular clinical assessment is expected in the first quarter of next year.