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Arix Bioscience PLC - London-based venture capital firm investing in ‘breakthrough’ biotechnology companies - Expects $18.6 million net proceeds from its $680 million sale of Harpoon Therapeutics, a clinical-stage immunotherapy company, to Rahway, New Jersey-based pharmaceutical maker Merck & Co Inc. Anticipates transaction to close in the first half of 2024. Arix Chair Peregrine Moncreiffe says: ‘Arix has been an investor in Harpoon Therapeutics since 2017, and it is great to see a company that we have been a part of since the early stages move through the clinic and receive recognition for the platform they have worked hard to develop. This acquisition by Merck provides significant potential for bringing life-saving treatment to cancer patients as they enhance their oncology pipeline. In what has been a difficult time across the biotech sector we see this M&A activity as a further sign of market recovery.’ Current stock price: 134.81 pence, down 0.1% on Friday morning in London 12-month change: up 28% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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