Healthcare investment company () 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.
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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