Large Biotech Firm Set For London Stock Exchange
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A large British biotech firm, backed by Sir Chris Evans, is reportedly preparing to float on the London Stock Exchange, with the Daily Mail describing this as a boost for the British biotech sector.
Sources have reportedly confirmed that Arix Bioscience, which focuses on developing medical innovations, is aiming to raise around £100 million with an initial public offering later this year, although the firm itself has failed to comment on the speculation.
The firm is headquartered in London and counts Joe Anderson, a former partner at life science investment firm Abingworth, and Jonathan Peacock, former CFO of Amgen and Novartis, among its directors, City AM reported.
In 2016, Arix Bioscience backed a number of projects exploring everything from research into drugs to fight blindness to the development of novel technologies for combined genetic and epigenetic analysis.
The last big investment announced by the firm in 2016 was funding to support a new biotech company focusing its research on DNA damage response (DDR).
Arix Bioscience provided funding alongside other leading European and US healthcare investors to help finance a pipeline of high-value DDR therapies at Artios Pharma.
These kinds of therapies have been shown to be particularly effective in treating cancer and Artios will focus its efforts on a DDR pipeline to target tumour DNA repair mechanisms to selectively kill tumour cells through a concept known as synthetic lethality.
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