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Arix Bioscience portfolio company Autolus Therapeutics raises US$109mln

The total of US$109mln is more than Autolus had originally set out to raise from the market

cancer cells
Arix’s 7.5% stake is currently valued at US$94mln (£72mln)

Autolus Therapeutics PLC (NASDAQ:AUTL), a portfolio company of biotech investor Arix Bioscience PLC (LON:ARIX), has raised more than expected from its recent public offering.

Autolus, which is developing next-gen cancer immunotherapies, had originally set out to raise US$100.8mln through the issue of 4.2mln American Depositary Shares (ADS) at US$24.00 apiece.

READ: Arix to invest another US$5mln in Autolus

But it ended up issuing 4.83mln ADS at the same price to raise US$109.0mln.

As part of the offering, Arix agreed to invest US$5mln, keeping its stake in Autolus at 7.5%, which is currently valued at US$94mln (£72mln).

Speaking last week, Arix chief executive Joe Anderson said: “Our investment in Autolus demonstrates our strategy to build world-leading biotech companies through the provision of flexible, long term capital.

“We believe Autolus is at the forefront of a revolution in cancer treatment and that its innovative approach to T-cell programming has the potential to offer life-changing therapies for patients.”

Quick facts: Arix Bioscience PLC

Price: 86.5 GBX

Market: LSE
Market Cap: £117.25 m

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