Global healthcare and life sciences company Arix Bioscience PLC (LON:ARIX) said Harpoon Therapeutics, one of its portfolio companies, has completed its flotation on NASDAQ.
Harpoon, a clinical-stage immunotherapy company developing a novel class of T cell engagers, completed an initial public offering (IPO) of 5.4mln shares at US$14 a shot, raising US$75.6mln.
READ: Arix Bioscience boost after Harpoon NASDAQ float
Arix retains a stake of 12.1% in Harpoon, which was valued at £31.3mln at the close of business on 13 February 2019, representing a gain of £12.1mln on total cash invested in Harpoon by Arix.
Arix has a market capitalisation of around £220mln.