LONDON, February 14, 2019 /PRNewswire/ --
This Announcement Contains Inside Information Within The Meaning Of The EU Market Abuse Regulation No.596/2014
- Harpoon IPO has closed
- Arix retains a stake of 12.1% in Harpoon
- The new total value of Arix's shareholding in Harpoon is £31.3 million; a £12.1 million increase on total cash invested by Arix
- Harpoon is well-positioned to play a significant role in immuno-oncology
Arix Bioscience plc (LSE: ARIX) ("Arix"), a global healthcare and life science company supporting medical innovation notes one of its portfolio companies, Harpoon Therapeutics, Inc. (NASDAQ: HARP) ("Harpoon") a clinical-stage immunotherapy company developing a novel class of T cell engagers, has reported the closing of its initial public offering of 5,400,000 shares of common stock at a public offering price of $14.00 per share for gross proceeds of $75.6 million, before deducting underwriting discounts and commissions and offering expenses payable by Harpoon. Harpoon's common stock began trading on the Nasdaq Global Select Market under the ticker symbol "HARP" on 8 February 2019.
Following the IPO, Arix retains a stake of 12.1% in Harpoon (amounting to 2,892,119 shares of common stock), which was valued at £31.3 million at the close of business on 13 February 2019. This represents a gain of £12.1 million on total cash invested in Harpoon by Arix.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on February 7, 2019. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132, or by e-mail at firstname.lastname@example.org .
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
All amounts that shown are at an exchange rate of GBP 1.0000 : USD 1.2950
About Arix Bioscience plc
Arix Bioscience plc is a global healthcare and life science company supporting medical innovation. Headquartered in London and with an office in New York, Arix Bioscience sources, finances and builds world class healthcare and life science businesses addressing medical innovation at all stages of development. Operations are supported by privileged access to breakthrough academic science and strategic relationships with leading research accelerators and global pharmaceutical companies.
Arix Bioscience plc is listed on the Main Market of the London Stock Exchange. For further information, please visit http://www.arixbioscience.com
About Harpoon Therapeutics
Harpoon Therapeutics is a clinical-stage immunotherapy company developing a novel class of T cell engagers that harness the power of the body's immune system to treat patients suffering from cancer and other diseases. T cell engagers are engineered proteins that direct a patient's own T cells to kill target cells that express specific proteins, or antigens, carried by the target cells. Using its proprietary Tri-specific T cell Activating Construct™ ("TriTAC"), platform, Harpoon is developing a pipeline of novel T cell engagers, or TriTACs, initially focused on the treatment of solid tumors and hematologic malignancies.
SOURCE Arix Bioscience plc