Arix Bioscience PLC (ARIX) Portfolio company Disc Medicine
announces USD62.5 million financing 14-Feb-2023 / 18:18 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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Arix Bioscience plc
Portfolio company Disc Medicine announces USD62.5 million
financing
LONDON, 14 February 2023: Arix Bioscience plc ("Arix" or the
"Company") (LSE: ARIX), a global venture capital company focused on
investing in breakthrough biotechnology companies, notes that its
portfolio company, Disc Medicine, today announced a USD62.5 million
financing to advance its portfolio of novel haematology
programmes.
The financing was led by Bain Capital Life Sciences, who
contributed USD50 million, with participation from existing
investors, Access Biotechnology and OrbiMed.
The announcement can be accessed on Disc Medicine's website at:
https://www.discmedicine.com/ and the full text of the announcement
from the company is contained below.
[ENDS]
Enquiries
For more information on Arix, please contact:
Arix Bioscience plc
+44 (0)20 7290 1050
ir@arixbioscience.com
Powerscourt Group
Sarah MacLeod, Ibrahim Khalil, Nick Johnson
+44 (0)20 7250 1446
arix@powerscourt-group.com
About Arix Bioscience plc
Arix Bioscience plc is a global venture capital company focused
on investing in breakthrough biotechnology 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
Disc Medicine Press Release:
Disc Medicine Announces USD62.5 Million Financing led by Bain
Capital Life Sciences to Advance Portfolio of Novel Hematology
Programs
WATERTOWN, Mass., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Disc
Medicine, Inc. (NASDAQ: IRON) a clinical-stage biopharmaceutical
company focused on the discovery, development and commercialization
of novel treatments for patients suffering from serious hematologic
diseases, today announced it has entered into a securities purchase
agreement with certain investors resulting in an aggregate USD62.5
million in gross proceeds through a registered direct offering. The
financing was led by Bain Capital Life Sciences, who contributed
USD50 million, with participation from existing investors, Access
Biotechnology and OrbiMed.
The financing includes 1,488,166 shares of the Company's common
stock at a price of USD23.00 per share and pre-funded warrants to
purchase up to an aggregate of 1,229,224 shares of common stock, at
a purchase price of USD22.9999, which represents the per share
offering price for the common stock less the USD0.0001 exercise
price for each pre-funded warrant. The offering is expected to
close on or about February 15, 2023, subject to customary closing
conditions.
The shares of common stock and pre-funded warrants were offered
pursuant to a shelf registration statement on Form S-3 (File No.
333-269272) that was previously filed with the U.S. Securities and
Exchange Commission (the "SEC") on January 18, 2023, and declared
effective by the SEC on January 18, 2023. A final prospectus
supplement, which contains additional information relating to the
offering, has been filed with the SEC and is available on the SEC's
website at www.sec.gov.
"We are delighted to welcome Bain Capital Life Sciences as an
investor during a transformational time for Disc. Our pipeline of
three clinical-stage programs, each with therapeutic potential in a
range of indications, is expected to provide a series of important
clinical trial read-outs beginning mid-year," said John Quisel,
J.D., Ph.D., Chief Executive Officer and President of Disc. "This
investment adds to the financial strength of the company and will
enable us to pursue the development of our programs with confidence
as we advance toward phase 2 data."
"We are thrilled to support Disc in its vision to build a
leading hematology company and believe the Company's unique
approach of targeting heme synthesis and iron metabolism addresses
fundamental processes of red blood cell development," said Ricky
Sun, PhD, Partner at Bain Capital Life Sciences. "We look forward
to supporting the Company as the data from programs mature and Disc
looks towards its next phase of growth."
This investment will primarily support development of Disc's
clinical-stage pipeline including:
-- Bitopertin (heme synthesis): a first-in-class,
investigational, orally administered inhibitor of
glycinetransporter 1 (GlyT1) that is designed to modulate heme
biosynthesis. It is currently being studied in patientswith
erythropoietic protoporphyria (EPP) in the ongoing phase 2 BEACON
and AURORA clinical trials. Disc expects toinitiate a separate
trial in Diamond-Blackfan Anemia (DBA) patients in the first half
of 2023. Studies inadditional indications are being planned.
-- DISC-0974 (hepcidin suppression): a first-in-class,
investigational, anti-hemojuvelin (HJV) monoclonalantibody designed
to suppress hepcidin production and increase serum iron to enable
erythropoiesis. It is currentlybeing studied in an ongoing phase
1b/2 clinical trial in myelofibrosis patients with anemia. A
separate trial inpatients with anemia of chronic kidney disease
(CKD) not receiving dialysis is expected to initiate in the
firsthalf of 2023 and studies in other forms of anemia of
inflammation are being planned.
-- MWTX-003 (hepcidin induction): a first-in-class,
investigational, anti-TMPRSS6 (also known asMatriptase-2)
monoclonal antibody designed to increase hepcidin production and
suppress serum iron. An IND has beenaccepted by the FDA and a phase
1 clinical trial of MWTX-003 in healthy volunteers are expected to
initiate in2023. Disc plans to develop MWTX-003 as a treatment for
polycythemia vera and other indications.
About Disc Medicine
Disc Medicine (NASDAQ:IRON) is a clinical-stage
biopharmaceutical company committed to discovering, developing, and
commercializing novel treatments for patients who suffer from
serious hematologic diseases. We are building a portfolio of
innovative, first-in-class therapeutic candidates that aim to
address a wide spectrum of hematologic diseases by targeting
fundamental biological pathways of red blood cell biology,
specifically heme biosynthesis and iron homeostasis. For more
information, please visit www.discmedicine.com.
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ISIN: GB00BD045071
Category Code: PFU
TIDM: ARIX
LEI Code: 213800OVT3AHQCXNIX43
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 223166
EQS News ID: 1559833
End of Announcement EQS News Service
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February 14, 2023 13:18 ET (18:18 GMT)
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