Arix Notes Verona's NASDAQ Listing

RNS Number : 7124D

Arix Bioscience Plc

28 April 2017

 

Arix Bioscience Notes Verona Pharma's NASDAQ Global Market Listing and $80m Fundraise

LONDON, 28 April, 2017: Arix Bioscience plc (LSE: ARIX) ("Arix Bioscience" or "the Company"), a global healthcare and life science company supporting medical innovation, is pleased to note the announcement by Verona Pharma plc, an Arix Bioscience Group Business, that it has raised approximately $80.0 million before expenses in a successful NASDAQ listing.

Verona's global offering priced of an aggregate of 47,399,001 new ordinary shares, comprising 5,768,000 American Depositary Shares ("ADS") priced at $13.50 per ADS and 1,255,001 ordinary shares at £1.32 per ordinary share. Gross proceeds were approximately $80.0 million.

Joe Anderson, Chief Executive Officer of Arix Bioscience Plc, commented: "Verona's successful fundraise and NASDAQ listing further demonstrates the interest in this dynamic company which we believe has the potential to make significant breakthroughs in respiratory medicine. It also provides further validation of the strength of the Arix strategy to invest in and support Group Businesses at the cutting edge of science in areas of unmet medical need."

For more information, please contact:

Arix Bioscience plc

Joe Anderson, CEO

[phone]

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

About Verona Pharma plc

Verona Pharma is a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapeutics for the treatment of respiratory diseases with significant unmet medical needs. Verona Pharma's product candidate, RPL554, is a first-in-class, inhaled, dual inhibitor of the enzymes phosphodiesterase 3 and 4 that acts as both a bronchodilator and an anti-inflammatory agent in a single compound. Verona Pharma is developing RPL554 for the treatment of chronic obstructive pulmonary disease (COPD), cystic fibrosis, and potentially asthma.

 

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