Interim Results for the Six Months Ended 30 June 2021

Arix Bioscience PLC (ARIX) 
Interim Results for the Six Months Ended 30 June 2021 
12-Aug-2021 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
----------------------------------------------------------------------------------------------------------------------- 
Arix Bioscience plc 
Interim Results for the Six Months Ended 30 June 2021 
LONDON, 12 August 2021: Arix Bioscience plc ("Arix", LSE: ARIX) a global venture capital company focused on investing 
in and building breakthrough biotech companies, today announces its interim results for the period ended 30 June 2021. 
Financial highlights 
  ? Net Asset Value of £281.2 million (December 2020: £328.2 million); 214p per share (December 2020: 242p); a 12% 
    decrease in NAV per share for the first six months of 2021 
  ? Net downward portfolio revaluation of £32.5 million[1] in the period, predominantly due to volatility in the public 
    portfolio 
  ? Gross Portfolio Value of £115.2 million (December 2020: £152.1 million), following significant realisations 
  ? Cash of £163.8 million (December 2020: £174.4 million); £27.6 million of capital deployed and £32.0 million of 
    capital realised during the period 
  ? 24% IRR generated by the Gross Portfolio since inception in 2016 
Operational and strategic progress 
  -- Launched buyback programme of up to £25 million; £8 million of shares purchased during the period 
  -- One new company added to the portfolio; Arix led the $152 million Series B financing for Pyxis Oncology, taking a 
    5.6% ownership stake 
  -- Closed down Quench Bio after reviewing initial pre-clinical work, demonstrating disciplined approach to capital 
    deployment and risk management 
  -- Focus on improving corporate governance; CEO and Chairman roles split, with Peregrine Moncreiffe appointed as 
    Chairman and Robert Lyne appointed as interim CEO and board director 
  -- Mark Chin, appointed as Managing Director, adding significant expertise in early to late-stage venture investing 
  -- Continued focus on building the investment team, adding new talent to deploy investment capital and manage the 
    Company's existing portfolio 
Portfolio highlights 
Despite the challenges faced as a result of COVID-19, Arix portfolio companies continued to make strong clinical and 
operational progress during the period. Notably: 
  -- Amplyx Pharmaceuticals was acquired by Pfizer, following strong Phase 2 clinical data from its lead product 
    candidate, Fosmanogepix in invasive fungal infections 
  -- Continued clinical progress in the portfolio with data readouts from Harpoon, Imara and Autolus and new trial 
    initiations from LogicBio, Harpoon, Artios and Autolus 
  -- Artios entered into a strategic collaboration with Novartis ($20 million upfront payment) and LogicBio entered into 
    a strategic collaboration with CANbridge Pharmaceuticals ($10 million upfront payment) 
  -- Arix portfolio companies have collectively raised over $690 million in 2021 putting them in a strong position to 
    execute on their important clinical development programmes. 
      ? Autolus and Harpoon completed public offerings on Nasdaq during the period, raising approximately $130[2] 
        million collectively 
      ? New portfolio company, Pyxis raised $152 million in a Series B financing during the period; Arix invested £10.8 
        million 
      ? Aura raised $80 million in a Series E financing during the period; Arix invested £1.3million 
      ? Artios raised $153m in a Series C financing post period end; Arix invested £6.3 million and continues to be the 
        largest shareholder 
      ? Imara completed a $50 million public offering on Nasdaq post period end; Arix invested £5.8 million 
 
Outlook - Key anticipated milestones 
Data generated from our clinical pipeline will be a key driver of value and whilst clinical development is not without 
risk, and the recruitment of clinical trials globally has been impacted by the coronavirus pandemic, we have a number 
of portfolio companies approaching key milestones. In particular, we note the following anticipated milestones across 
our portfolio in H2 2021: 
  -- Harpoon (8% of NAV) expects to report interim data from ongoing Phase 1/2 clinical trials in ovarian and pancreatic 
    cancer (HPN536), multiple myeloma (HPN217) and small cell lung cancer (HPN328). 
  -- Artios (7% of NAV) expects to initiate a Phase 1 clinical study for its Pol-theta inhibitor (ART4215) for the 
    treatment of PARP resistant cancers. 
  -- Aura (4% of NAV) expects to report interim data from the dose escalation cohorts of its Phase 2 clinical trial 
    evaluating suprachoroidal administration of AU-011 in patients with choroidal melanoma and twelve months data from 
    its Phase 1b/2 clinical trial evaluating intravitreal administration of AU-011 in patients with choroidal melanoma. 
  -- LogicBio (3% of NAV) expects to report interim data from its Phase 1/2 clinical study for LB-001 for the treatment 
    of methylmalonic acidemia in paediatric patients. 
  -- Imara (2% of NAV) expects to announce interim results from its ongoing Phase 2b clinical studies for IMR-687 in 
    sickle cell disease and beta-thalassemia. 
  -- Autolus (1% of NAV) expects to report Phase 1 data in B cell Non-Hodgkin Lymphoma and long term follow up Phase 1 
    data in adult acute lymphoblastic leukaemia (ALL) for AUTO1 (obe-cel). Autolus also expects to present Phase 1 data 
    for AUTO1/22 in paediatric ALL and initiate Phase 1 clinical trials for its AUTO8 and allogeneic programmes. 
  -- STipe Therapeutics (1% of NAV) expects to nominate a clinical development candidate. 
  -- Atox Bio (1% of NAV) has been given a PDUFA date of 30 September 2021 by the FDA, which is the goal decision date 
    on its new drug application for patients with necrotising soft tissue infection. 
 
Robert Lyne, Interim CEO of Arix, commented: "I am pleased that during the period Arix portfolio companies made strong 
progress with clinical data updates, new trial initiations and successful financing rounds by both our public and 
private portfolio companies. Collectively our companies have raised over $690 million in 2021, from a broad base of 
investors. We continued to expand the portfolio with the addition of Pyxis Oncology, where we led the Series B 
financing round, while exiting Amplyx, which was acquired by Pfizer in April 2021. 
"Whilst the volatility of public companies has impacted our financial performance during the period, our focus remains 
on the clinical progress of these businesses. This is what we believe will drive their value in the future. 
Importantly, these companies are well capitalised and therefore in a strong position to reach their important clinical 
milestones. 
"It is truly an exciting time in biotech, and we continue to see a strong pipeline of new investment opportunities 
across a broad range of therapeutic areas. Our focus is on building the team to identify these opportunities and 
support our existing portfolio. We believe our strong capital base and numerous expected value inflection points have 
the potential to drive transformative growth in our NAV, for the benefit of shareholders." 
All Financial Results materials are available on the Arix website. 
[ENDS] 
Enquiries 
For more information on Arix, please contact: 
Arix Bioscience plc 
[phone] 
[e-mail] 
 
Optimum Strategic Communications 
Mary Clark, Manel Mateus 
[phone] 
[e-mail] 
 
About Arix Bioscience plc 
Arix Bioscience plc is a global venture capital company focused on investing in and building breakthrough biotech 
companies around cutting edge advances in life sciences. 
We collaborate with exceptional entrepreneurs and provide the capital, expertise and global networks to help accelerate 
their ideas into important new treatments for patients. As a listed company, we are able to bring this exciting growth 
phase of our industry to a broader range of investors. www.arixbioscience.com 
 
Chief Executive Statement 
Overview 
The first half of 2021 saw continued progress within our existing portfolio, with clinical data updates from Harpoon, 
Autolus and Imara and new trial initiations from LogicBio, Harpoon, Artios and Autolus. Collectively our companies have 
raised over $690 million in 2021, demonstrating their ability to attract capital from a broad base of investors and 
putting them in a strong position to execute their important clinical development programmes. 
We continued to expand the portfolio, with the addition of Pyxis Oncology, where we led the Series B financing round as 
part of the reinvestment of the significant cash proceeds we generated in 2020. During the period, the portfolio 
continued to mature, reaching a number of key milestones and moving us closer to the 2023 targets we set out in 2020. 
Notably, we achieved our second strategic exit with the sale of Amplyx to Pfizer in April 2021. Whilst the transaction 
resulted in only a small increase on our previous holding value, we are pleased that Amplyx is now well supported to 
develop its pipeline of novel treatments with the potential for new drugs to be approved in the future. 
Our focus remains on delivering significant returns to our shareholders through the growth of our Net Asset Value 
(NAV). Whilst this declined in the period, from £328 million or 242p per share at 31 December 2020 to £281 million or 
214p per share at 30 June 2021, the decline was primarily driven by the combined impact of our share buyback programme 
and volatility in our public holdings. During the period, Gross Portfolio Value declined by £32.5 million (including 
£2.6 million FX loss), of which £26.2 million was due to unrealised movements in public portfolio companies.  Of these 
positions, Imara recorded the largest decline reducing by £12 million during the period, with LogicBio and Autolus also 

(MORE TO FOLLOW) Dow Jones Newswires

August 12, 2021 02:00 ET (06:00 GMT)