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Arix Bioscience boost after Harpoon NASDAQ float

The fair value of the company's investment in Harpoon has grown by £6.2mln
dna strands
This is the fourth Arix portfolio company in three years to find its way onto the public markets

Healthcare investment company Arix Bioscience Plc (LON:ARIX) said a fourth portfolio company is listing on the stock market, increasing the valuation of its shareholding.

Harpoon Therapeutics, which is developing T-cell immunotherapies for cancer, is raising £58.4mln from the NASDAQ float.

READ: Arix Bioscience portfolio firm Harpoon Therapeutics plans US IPO

Arix has followed its money by ploughing £4.6mln into the IPO. This takes its stake to 12.1%, which is worth £31.3mln, which includes a boost to the fair value of the original holding of £6.2mln.

“Coupled with its scientific expertise and strong management team, we believe Harpoon is well-positioned to play a significant role in immuno-oncology,” said chief investment officer Joe Anderson.

“As early investors in Harpoon, we are excited to see the potential of the company continue to grow.”

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