Arix Bioscience plc: Update on LogicBio Proposed Initial Public Offering in the United States

LONDON, October 10, 2018 /PRNewswire/ --

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF THE EU MARKET ABUSE REGULATION NO.596/2014

Arix Bioscience plc (LSE: ARIX) ("Arix"), a global healthcare and life science company supporting medical innovation, today notes that LogicBio Therapeutics Inc.("LogicBio") has filed an amended registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering in the United States of shares of its common stock.

The registration statement discloses an indicative pricing range for the proposed offering of U.S.$12.00- U.S.$14.00 per common share. This would represent an increase in value of Arix's current shareholding in LogicBio (compared to the £4.9 million sterling holding value) of £15.9 - £19.4 million^[1]. The proposed maximum aggregate offering amount specified in the filing is U.S.$75.0 million, which assumes that the offering price is at the midpoint of the indicative pricing range and does not include the underwriters' option to purchase additional common shares.

Arix has indicated an interest in purchasing common shares in the offering, subject to agreement with the underwriters.

The registration statement can be accessed through the SEC's EDGAR database. The registration statement relating to the shares of common stock has been filed with the SEC but has not yet become effective. The shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

The securities referred to in this release are to be offered only by means of a prospectus. When available, copies of the preliminary prospectus can be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at [email protected].

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.

About LogicBio 

LogicBio Therapeutics is a genome editing company focused on developing medicines to durably treat rare diseases in patients with significant unmet medical needs using GeneRidetm, its proprietary technology platform. GeneRidetm enables the site-specific integration of a therapeutic transgene, in a nuclease-free and promotorless approach by relying on the native process of homologous recombination to drive lifelong expression. Headquartered in Cambridge, Massachusetts, LogicBio is committed to developing medicines that will transform the lives of pediatric patients and their families.

References:

1. At exchange rate on 9 October 2018  

Enquiries  

For more information on Arix, please contact:

Arix Bioscience plc
Charlotte Parry, Head of Investor Relations
+44(0)20-7290-1072
[email protected]  

Optimum Strategic Communications
Mary Clark, Supriya Mathur
+44(0)203-714-1787
[email protected]

Burns McClellan (US Media & IR Enquiries)
Nancie Steinberg, Bill Slattery Jr.
+1-212-213-0006
[email protected]

SOURCE Arix Bioscience plc