Arix Bioscience plc Business Update and Cancellation of Share Buyback
LONDON, 18 October 2021: Arix Bioscience plc (“Arix” or the “Company”) (LSE: ARIX), a global venture
capital company focused on investing in and building breakthrough biotech companies, today
announces a number of developments.
Over the past six months Arix has worked to position the Company for the future which has involved
a number of strategic actions. The Board has been strengthened, most recently with the addition of
Sir Michael Bunbury as Senior Independent Director, whilst the Investment Team has been expanded.
This started with Mark Chin re-joining Arix in July 2021. Mark had been instrumental in driving much
of the current portfolio, including VelosBio which was acquired by Merck for $2.75 billion generating
gross proceeds to Arix of £138.5 million and a 12.5x return on the original investment. In the three
months since re-joining Arix, Mark has already led a new investment, £8 million into Disc Medicine,
which is developing novel therapies to treat serious and debilitating haematological disorders.