Response to Activist Shareholder Acacia

Arix Bioscience plc

Response to Activist Shareholder Acacia

LONDON, 10 March 2021: Arix Bioscience plc ("Arix", LSE: ARIX) a global venture capital company focused on investing in and building breakthrough biotech companies, today issues the following statement in response to the open letter issued by Acacia Research Corporation (Acacia) on 9 March 2021.

Arix regularly engages in open communications with all of its shareholders and values constructive input. The Board is disappointed that Acacia has decided to publish this letter on the same day it was received by Arix.

Arix has an experienced Board that is committed to acting in the best interest of all shareholders. Arix has recently announced the strengthening of Corporate Governance with the appointment of two experienced independent Non-Executive Directors and a Senior Independent Director.

Arix has already made public its commitment to build the investment team in the UK and the US; this process is already underway.

Annual Results for the year ended 31 December 2020 highlight the significant progress and strong financial performance Arix achieved over the last year, demonstrating the successful execution of the change in Company strategy during the period.

The Company intends to review the letter carefully and will be engaging directly with Acacia.

[ENDS]

For more information on Arix, please contact:

Arix Bioscience plcCharlotte Parry, Head of Investor Relations+44 (0) 20 7290 1072[email protected]

Optimum Strategic CommunicationsMary Clark, Supriya Mathur, Shabnam Bashir+44 (0)20 3922 1906[email protected]

About Arix Bioscience plc

Arix Bioscience plc is a global venture capital company focused on investing in and building breakthrough biotech companies around cutting-edge advances in life sciences.

We collaborate with exceptional entrepreneurs and provide the capital, expertise and global networks to help accelerate their ideas into important new treatments for patients. As a listed company, we are able to bring this exciting growth phase of our industry to a broader range of investors. www.arixbioscience.com