Arix Bioscience: Portfolio company Harpoon Therapeutics makes progress on multiple fronts
Harpoon said it had the potential for multiple data releases in 2021 on all four of its programs
Company
LON:ARIX
Arix Bioscience is a global venture capital company focused on investing in and building breakthrough biotech companies around cutting edge advances in life sciences. The company collaborates with exceptional entrepreneurs and provide the capital, expertise and global networks needed to help accelerate their ideas into important new treatments for patients. As a listed company, it aims to bring this growth phase of the industry to a broader range of investors.
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Harpoon said it had the potential for multiple data releases in 2021 on all four of its programs
Dr Christian Itin, chairman and chief executive officer of Autolus, said: “This differentiated profile may widen the potential use of CAR T therapy in DLBCL.
AUTO1 is an anti-cancer CAR T-cell therapy currently going through a phase 1 clinical trial
Arix is the largest shareholder in Artios with a 12.7% stake on a fully diluted basis
The price represents a twelve times return on Arix's original £12mln investment
The firm will issue 7mln shares of common stock at US$6 each for total gross proceeds of approximately US$42mln
“The data support a best in class profile with a high level of complete remissions and a well-tolerated safety profile”
The first half of the year saw the business refocused and streamlined, resulting in sharply reduced operating costs, at the same time, the group's NAV headed north at a rate of knots
LogicBio said it expects patient enrolment to begin in early 2021.
Fosmanogepix was also well tolerated with no treatment-related serious adverse events or discontinuations
The plans follow results from a phase 3 clinical trial of Reltecimod which showed positive effects on resolution of organ dysfunction in patients suffering with necrotizing soft tissue infection
The proceeds will be used to further advance the clinical development of the VelosBio lead antibody-drug conjugate (ADC), VLS-101
The firm also announced new data from two other portfolio firms, Imara and Autolus Therapeutics
Schetter's appointment was one of three changes, which also included the establishment of both a scientific advisory board and a board investment committee
Arix has a 6.45% stake in Autolus and 10.4% in Harpoon
New investors in Amplyx include Pfizer and Adage Capital
Given that there is increasingly positive momentum behind life sciences companies in the COVID-19 environment, the current 47% discount to NAV should be viewed as an opportunity"
Pharmaxis said it will update on Phase 2 once it receives final regulatory clearance in the third quarter of 2020
The Phase 1/2 clinical trial is targeting relapsed, refractory multiple myeloma
The Gilead Sciences Inc (NASDAQ:GILD) report has given a nudge to the FTSE 100, which registered a triple-digit gain; Wall Street is primed to open in positive territory too