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Arix Bioscience Plc - Imara prices Nasdaq IPO

Arix Bioscience plc

Imara prices Nasdaq IPO

(LSE:ARIX) ("Arix"), a global venture capital company focused on investing in and building breakthrough biotech companies, today notes that its portfolio company, Imara Inc. (“Imara”), has announced the pricing of its initial public offering of 4,700,000 shares of common stock at a public offering price of per share for aggregate gross proceeds of . In addition, Imara has granted the underwriters an option for a period of 30 days to purchase up to 705,000 additional shares of common stock.  All of the shares are being offered by Imara. Imara’s common stock is expected to begin trading on The Nasdaq Global Select Market on under the ticker symbol “IMRA”., :LONDON12 March 2020Arix Bioscience plc$16.00$75.2 million12 March 2020

The IPO resulted in an £4.3 million (3.1p per share) increase in the value of Arix’s existing holding in Imara, which was valued at £10.7 million at . Additionally, Arix has agreed to invest (£2.3 million) in the IPO to retain a total stake of 9.4% in Imara (amounting to 1,554,558 shares of common stock), giving a total new valuation of £19.4 million, compared to a cost of £13.7 million. , Director, will continue to serve on Imara’s board.[1][1][2]31 December 2019$3.0 millionMark ChinArix Investment

Imara expects to use the net proceeds from the IPO to advance development of its lead product candidate, IMR-687, for the treatment of patients with sickle cell disease (SCD) and beta-thalassemia and for working capital and other general corporate purposes, including potential pipeline expansion.

, CEO of Arix, commented:Joe Anderson

“Imara’s lead candidate IMR-687 has potential to transform outcomes for people living with sickle cell disease by working on both the white-cell and red-cell aspects of the disease. This financing is an important milestone for Imara, with the company planning to use proceeds to advance clinical development of IMR-687 in both sickle cell disease and thalassemia.”

A registration statement relating to these securities has been filed with and declared effective by the . This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.U.S. Securities and Exchange Commission

The securities referred to in this release are to be offered only by means of a prospectus. When available, copies of the final prospectus can be obtained from , , 2nd Floor, 10014, Attention: Prospectus Dept.; , c/o Broadridge Financial Solutions, , , 11717 or by telephone at (800) 831-9146; or , , 37th Floor, , 02110, Attention: , by telephone at (800) 808-7525, ext. 6218, or by email at .Morgan Stanley & Co. LLCCitigroup Global Markets Inc.SVB Leerink LLCSyndicate Department180 Varick StreetNew York, New York1155 Long Island AvenueEdgewood, New YorkOne Federal StreetBoston, Massachusetts[email protected]



For more information on Arix, please contact:

Arix Bioscience plc

, Head of Investor RelationsCharlotte Parry

+44 (0)20 7290 1072

[email protected]

Optimum Strategic Communications

Mary Clark, ,Supriya MathurShabnam Bashir

+44 (0)20 3714 1787

[email protected]

This announcement includes information that is inside information as defined in Article 7 of the Market Abuse Regulation (EU) No.596/2014.The person responsible for arranging for the release of this announcement on behalf of is , General Counsel.Arix Bioscience plcRobert Lyne

AboutArix 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.Arix Bioscience plc

is listed on the Main Market of the . For further information, please visitArix Bioscience plcLondon Stock Exchangewww.arixbioscience.com

About Imara

Imara Inc. is a clinical-stage biotechnology company dedicated to developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of hemoglobin, known as hemoglobinopathies. Imara is currently advancing IMR-687, a highly selective, potent small molecule inhibitor of PDE9 that is an oral, once-a-day, potentially disease-modifying treatment for sickle cell disease and beta-thalassemia. IMR-687 is being designed to have a multimodal mechanism of action that acts on red blood cells, white blood cells, adhesion mediators and other cell types.

[[1]] At exchange rate on (GBP/)12 March 2020USD 1.2820

[2] Cash cost of Arix at prevailing exchange rate at time of investment

--  Fifth public listing of an Arix portfolio company
--  Arix invests  (£2.3 million)[1] in the IPO to retain a stake
        of 9.4% in Imara$3.0 million
--  The new total value of Arix’s shareholding in Imara is 
        (£19.4 million)[1]; this represents a cumulative revaluation of £5.7
        million (4.2p per share) on total cash invested in Imara by Arix$24.9 million
Cost of investment at               £9.3m

Arix valuation at                  £10.7m

Arix Series B Tranche 2 investment –   £2.1m

Uplift of existing stake at IPO (including FX)      £4.3m

Arix participation in IPO                           £2.3m

Total Arix Valuation                               £19.4m31 December 201931 December 2019February 2020

Quick facts: Arix Bioscience PLC

Price: 95.5

Market: LSE
Market Cap: £129.45 m

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