Arix Bioscience's portfolio company, Harpoon Therapeutics, has announced a private placement in public equity (PIPE) financing that is expected to raise approximately $100 million in upfront gross proceeds, with the potential for an additional $50 million upon cash exercise of warrants. The financing was led by a leading biotechnology investor associated with one of the largest alternative asset managers, with participation from new and existing investors. The funds raised will be used to fund Harpoon's clinical development programs, including ongoing and future late-stage clinical studies of HPN328, as well as for working capital and general corporate purposes. The financing, combined with current cash and cash equivalents, is expected to be sufficient to fund Harpoon's current operating plan into 2026. Arix's holding value will be determined by the market price of Harpoon's shares.