Update on Iterum proposed NASDAQ IPO

RNS Number : 3518O

Arix Bioscience Plc

17 May 2018

 

Arix Bioscience plc

Update on Iterum proposed NASDAQ IPO

17 May 2018 Arix Bioscience plc (LSE:ARIX) ("Arix"), a global healthcare and life science company supporting medical innovation, notes that its Group Business Iterum Therapeutics ("Iterum") a clinical-stage pharmaceutical company developing anti-infectives aimed at combatting the global crisis of multi-drug resistant pathogens, has filed an amended Form S-1 with the U.S. Securities and Exchange Commission in respect of its proposed initial public offering ("IPO") in the United States.

The amended Form S-1 filing states an expected pricing range for the proposed IPO of between $14.00 and $16.00 per share. This would represent a valuation of Arix's current holding in Iterum of between £7.0m and £8.1m (compared to cost to date of £9.0m).

The proposed maximum aggregate offering amount specified in the filing is US$85.3 million, which assumes that the public offering price is at the top of the range and includes the 15% option to that is proposed to be granted to the underwriters to cover over-allotments. A further announcement will be made in due course.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of Iterum's ordinary shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

ENDS

For more information on Arix, please contact:

Arix Bioscience plc

Charlotte Parry, Investor Relations Manager

[phone]

[e-mail]

Consilium Strategic Communications

Mary-Jane Elliott, Jessica Hodgson, Ivar Milligan

[phone]

[e-mail]

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 www.arixbioscience.com. The information contained on Arix's website does not constitute part of the prospectus.

 

END

 

 

UPDFQLLFVEFEBBQ