Proactive Investors - Run By Investors For Investors

Arix Bioscience increases stake in cutting-edge cancer company after backing its latest financing round

The venture capital company committed £3.4mln to Aura Biosciences' Series D financing round
two researchers
Arix invests in the biotech and life sciences sectors

Arix Bioscience PLC (LON:ARIX) said it had increased its stake in investee company Aura Biosciences after backing the latter’s £31mln (US$40mln) Series D financing round.

Arix committed £3.4mln, taking its holding in the ocular oncology specialist to 7.7%.

READ: Autolus Therapeutics presents promising leukaemia trial data at American Association for Cancer Research's annual meeting

Its total interest in the business rose to £8.5mln from £3.9mln, while the financing recognised a 33% uplift in the book value of Arix’s Series C investment in Aura.

The cash injection will fund Cambridge, Massachusetts-based Aura’s late-stage clinical development of its lead asset, light-activated AU-011, for the treatment of primary choroidal melanoma, a rare but aggressive eye cancer.

The ongoing phase Ib/II clinical trial has provided evidence of tumour control and the preservation of visual acuity (clarity of vision).

The phase III study is expected to get underway in the first half of next year. Arix chief executive Joe Anderson lauded the “significant clinical progress” made by Aura.

“We look forward to working alongside the world-class management team and new and existing investors to accelerate development of this potential new treatment,” he added.

Arix investment director, Mark Chin, will continue to serve on the Aura board.

After hours on Monday, data was presented from a phase I/II clinical trial being carried out by another Arix investee company, Autolus Therapeutics. The late-breaking poster presentation at the American Association for Cancer Research Annual Meeting in Atlanta, Georgia, assessed the progress to date of a next-generation programmed T-cell therapy for patients with acute lymphoblastic B-cell leukaemia.

View full ARIX profile View Profile

Arix Bioscience PLC Timeline

Related Articles

Scientist
December 03 2018
Since September, the group's portfolio has steamed ahead with a number of new and successful clinical trials, as well as a boost from the float of one of its companies on the Nasdaq
pills
April 12 2019
The biotechnology company is developing a platform of unique drugs designed to prevent serious gastrointestinal damage and bleeding caused by chronic naproxen use
Weight loss
January 07 2019
A deal with Indian firm Zeon Lifesciences in January is the ninth deal the firm has secured for the weight loss product

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use