30th Jul 2018 11:27
LONDON (Alliance News) - Arix Bioscience PLC said Monday that the value of its portfolio increased by 71% in the first half of the year, mainly driven by Autolus Therapeutics PLC initial public offering in the US.
For the six months to June 30, the investment company focused on supporting medical innovation, said its gross portfolio value increased by 71% to GBP121.8 million. The company also saw a GBP35.6 million in net positive revaluation of its core portfolio.
"It has been another positive six months for Arix, a period during which we had a number of encouraging developments in our group businesses, leading to GBP35.6 million of net positive revaluations, primarily driven by the IPO of Autolus," Chief Executive Officer Joe Anderson said.
In the six-month period, net asset value increased 76% to GBP257.6 million from GBP146.6 million at the end of 2017.
"At the half year we have delivered meaningful growth in net asset value, and we are well positioned to deliver further over the full year," Anderson added.
Arix Bioscience shares were trading down 1.0% at 176.15 pence each Monday.
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