Arix Bioscience PLC has announced its interim results for the six months ended 30 June 2023. The company's net asset value (NAV) increased by £13 million to £239 million, or 185p per share. The value of the listed portfolio increased to £68 million, while the value of the unlisted portfolio reached £66.2 million. The gross portfolio value stood at £134.4 million. The company's cash position at the end of the period was £101.0 million.
In terms of operational and strategic highlights, Arix Bioscience reported continued momentum in its Public Opportunities Portfolio (POP), which increased in value to £22.1 million. The company also highlighted its agile capital deployment strategy, conserving cash in volatile market conditions while supporting existing portfolio companies and investing in new ones.
Arix Bioscience added Ensoma to its core portfolio with a $9 million investment in an $85 million financing round. Ensoma subsequently closed a $50 million Series B extension, bringing the total round to $135 million. Disc Medicine announced a $62.5 million financing led by Bain Capital, and raised a further $157.8 million in a public offering. Harpoon completed a $25 million private placement, and Enliven entered the public markets via a reverse merger with Imara Inc.
The company also highlighted the performance of its Public Opportunities Portfolio, which has outperformed Arix's benchmark XBI index since its inception by 26%, returning 8.8% in the same period.
Arix Bioscience announced that it has commenced a strategic review in July, in light of unfavorable market conditions. The company is currently considering a number of strategic options and expects to conclude the process soon.
The company will host an analyst briefing and an investor presentation on September 27, 2023.