Arix Bioscience PLC (ARIX) Arix Bioscience PLC: Blackstone Life
Sciences to invest up to USD250 million in Autolus Therapeutics to
develop obe-cel in adult Acute Lymphoblastic Leukemia (ALL) and
advance broader platform 08-Nov-2021 / 13:00 GMT/BST Dissemination
of a Regulatory Announcement, transmitted by EQS Group. The issuer
is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
Arix Bioscience plc
Blackstone Life Sciences to invest up to USD250 million in
Autolus Therapeutics to develop obe-cel in adult Acute
Lymphoblastic Leukemia (ALL) and advance broader platform
LONDON, 08 November 2021: Arix Bioscience plc ("Arix", LSE:
ARIX), a global venture capital company focused on investing in and
building breakthrough biotech companies, notes that its portfolio
company Autolus Therapeutics plc (Nasdaq: AUTL) (Autolus), a
clinical-stage biopharmaceutical company developing next-generation
programmed T cell therapies, has entered into a strategic
collaboration and financing agreement with Blackstone (NYSE: BX)
under which funds managed by Blackstone Life Sciences
("Blackstone") will provide up to USD250 million in equity and
product financing to support Autolus' advancement of its CD19 CAR T
cell investigational therapy product candidate, obecabtagene
autoleucel (obe-cel), as well as next generation product therapies
of obe-cel in B-cell malignancies.
As part of this USD250 million transaction, Blackstone is
committing to invest USD150 million in product financing to support
obe-cel development and commercialization, with USD50 million
payable upon closing of the transaction and the remainder payable
based on certain development and regulatory achievements.
Blackstone has also agreed to purchase USD100 million of Autolus'
American Depositary Shares (ADS) in a private placement, which is
subject to customary closing conditions. In connection with the
collaboration, Blackstone received the right to nominate a member
to Autolus' board of directors.
Arix's existing holding in Autolus is 0.8% and was valued at
GBP2.6 million at 30 June 2021.
The announcement can be accessed on the Autolus website at:
https://www.autolus.com/investor-relations/ and the full text of
the announcement from Autolus is contained below.
[ENDS]
For more information on Arix, please contact:
Arix Bioscience plc
+44 (0)20 7290 1050
ir@arixbioscience.com
Optimum Strategic Communications
Mary Clark, Manel Mateus
+44 (0)20 3922 1906
optimum.arix@optimumcomms.com
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
AUTOLUS THERAPEUTICS PRESS RELEASE
Blackstone Life Sciences to invest up to USD250 million in
Autolus Therapeutics to develop obe-cel in adult Acute
Lymphoblastic Leukemia (ALL) and advance broader platform
November 8, 2021 at 2:00 AM EST
- One of the largest private financings of a UK biotech company,
and the largest from a single source - continues Blackstone
conviction in the country
- Durability and favorable toxicity profile of obe-cel supports
its potential as the first stand-alone therapy in adult ALL with
curative potential in a last line setting
- Blackstone strategic financing to enable Autolus to complete
clinical development of obe-cel in its first indication of relapsed
/ refractory adult ALL and to support initial pre-approval
commercial activities
LONDON and CAMBRIDGE, Mass., Nov. 08, 2021 (GLOBE NEWSWIRE) --
Autolus Therapeutics plc (Nasdaq: AUTL), a clinical-stage
biopharmaceutical company developing next-generation programmed T
cell therapies, and Blackstone Life Sciences today announced that
the two companies have entered into a strategic collaboration and
financing agreement under which funds managed by Blackstone (NYSE:
BX) will provide up to USD250 million in equity and product
financing to support Autolus' advancement of its CD19 CAR T cell
investigational therapy product candidate, obecabtagene autoleucel
(obe-cel), as well as next generation product therapies of obe-cel
in B-cell malignancies.
As part of this USD250 million transaction, Blackstone is
committing to invest USD150 million in product financing to support
obe-cel development and commercialization, with USD50 million
payable upon closing of the transaction and the remainder payable
based on certain development and regulatory achievements.
Blackstone has also agreed to purchase USD100 million of Autolus'
American Depositary Shares (ADS) in a private placement, which is
subject to customary closing conditions. In connection with the
collaboration, Blackstone received the right to nominate a member
to Autolus' board of directors.
The transaction continues Blackstone's commitment to the UK
economy which has seen the firm invest more than USD18 billion
across 44 investments headquartered in UK. These investments
support more than 27,000 direct jobs and help make Blackstone the
UK's biggest foreign investor over the past 10 years.
"Autolus is a world-class company with an innovative platform
and the potential to deliver best-in-class, lifesaving treatments
to patients suffering from cancer," said Dr. Nicholas Galakatos,
Global Head of Blackstone Life Sciences. "Our investment in these
next generation cell therapies exemplify our conviction in the
quality and promise of the life sciences sector in the UK. We look
forward to building on this investment in the years to come."
"We welcome Blackstone Life Sciences to join our drive to change
the outlook for leukemia and lymphoma patients, notably those with
acute lymphoblastic leukemia. Blackstone's investment and expertise
will support the development and preparation for commercialization
of obe-cel and put the program and the Company on a strong
financial footing as we are approaching the read-out from the
potentially pivotal FELIX clinical trial during the course of
2022," said Dr. Christian Itin, Chief Executive Officer of
Autolus.
"We are excited to collaborate with Autolus in support of their
innovative platform pursuing safer, more durable, therapies with
the potential to be lifesaving options for patients with ALL and
beyond. We see a significant opportunity to improve the outlook for
cancer patients who are facing a devastating course of their
disease," said Nicholas Simon, Senior Managing Director of
Blackstone Life Sciences. "This investment continues to build on
our conviction in not just innovative cell and gene therapies, but
also supporting innovation in the United Kingdom and Europe
broadly."
UK Science Minister George Freeman said: "This is another vote
of confidence in the quality of life science in the UK, reinforcing
our reputation as a world leader in discovering new cures for
currently untreatable diseases like Autolus' T cell therapy drugs
for leukemia. Big investments like these give real hope to those
suffering from diseases like leukemia - and create high skill jobs
& opportunities in the development and manufacturing of
treatments to help develop and boost our life science clusters all
around the UK."
Autolus recently announced plans to build a dedicated
manufacturing facility in Stevenage, UK to help secure global
commercial launch capacity for obe-cel with a 70,000 square foot
building. The ground-breaking ceremony for this new facility is due
to be held today, with building works commencing imminently.
Moelis & Company LLC acted as financial advisor. Cooley LLP
and Cooley (UK) LLP acted as legal advisor to Autolus, and Goodwin
Procter LLP acted as legal advisor to Blackstone.
About the Transaction
The strategic financing collaboration by Autolus and Blackstone
Life Sciences is expected to support the development and
preparation for commercialization of Autolus' product candidate,
obe-cel. As part of this USD250 million transaction, Blackstone is
committing to invest an aggregate of USD150 million in product
financing to support Autolus' development and potential
commercialization of obe-cel, with USD50 million payable upon
closing of the transaction and the remainder (up to USD100 million)
payable based on certain development and regulatory achievements.
In return for this strategic investment, Autolus has agreed to pay
Blackstone a capped single digit royalty plus milestone payments
based on net sales of obe-cel. In addition, Blackstone will receive
a warrant to purchase up to USD24 million worth of Autolus ADSs at
an exercise price premium to market. Blackstone has also agreed to
make a USD100 million equity investment in Autolus which is
expected to close on or about November 12, 2021, subject to
customary closing conditions. In connection with the collaboration,
Blackstone received the right to nominate a member to Autolus'
board of directors.
About Autolus Therapeutics plc
Autolus is a clinical-stage biopharmaceutical company developing
next-generation, programmed T cell therapies for the treatment of
cancer. Using a broad suite of proprietary and modular T cell
programming technologies, the Company is engineering precisely
targeted, controlled and highly active T cell therapies that are
designed to better recognize cancer cells, break down their defense
mechanisms and eliminate these cells. Autolus has a pipeline of
product candidates in development for the treatment of
hematological malignancies and solid tumors. For more information,
please visit www.autolus.com.
About obe-cel (obecabtagene autoleucel)
(MORE TO FOLLOW) Dow Jones Newswires
November 08, 2021 08:00 ET (13:00 GMT)
Arix Bioscience (LSE:ARIX)
Historical Stock Chart
From Feb 2024 to Mar 2024
Arix Bioscience (LSE:ARIX)
Historical Stock Chart
From Mar 2023 to Mar 2024