23rd Jan 2020 09:00
(Alliance News) - Healthcare-focused investors Syncona Ltd and Arix Bioscience PLC noted Thursday that portfolio company Autolus Therapeutics has priced its public offering in the US at around USD80.0 million.
Autolus will offer 7.3 million American Depositary shares at a price of USD11.00 per ADS. The company has also granted its underwriters a 30-day option to purchase an additional 1.1 million ADS at the same price as the main offering.
Syncona will invest USD15.0 million in the offering, following which it will retain a stake of 28% in Autolus, valued at GBP151.4 million on Wednesday.
Meanwhile, Arix said, following the placing, it will retain its stake of 6.5% in Autolus, valued at GBP32.0 million.
"Autolus has delivered promising data in its AUTO1 adult ALL programme and we are delighted to continue to back the business as it looks to commence its pivotal programme in this indication in the first half of 2020 and deliver on its ambition to take product to market," said Martin Murphy, CEO of Syncona Investment Management Ltd.
"We believe the business is well positioned to continue to develop its exciting pipeline of next generation T cell therapies and look forward to seeing further data from the AUTO3 programme in DLBCL in the second half, which will enable Autolus to make its decision on further clinical development, including phase 2 initiation," Murphy added.
Shares in FTSE 250-listed Syncona were up 0.7% at 224.50 pence on Thursday in London. Arix Bioscience's shares were down 1.0% at 95.02p.
By Dayo Laniyan; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
ARIX.LSyncona