Arix Bioscience PLC has announced that its portfolio company, Aura Biosciences, has successfully closed a public offering of its common stock, raising approximately $99 million. The offering consisted of 11,000,000 shares of common stock at a price of $9.00 per share. After deducting underwriting discounts, commissions, and estimated offering expenses, Aura received net proceeds of around $92.6 million. The funds will be used to advance the clinical development of belzupacap sarotalocan for the treatment of choroidal melanoma and choroidal metastasis, as well as for platform development and general corporate purposes.
Arix Bioscience holds 1,508,483 shares in Aura, and the value of these shares will be determined by the market price of Aura's shares. The net proceeds from the offering, combined with Aura's existing cash, cash equivalents, and marketable securities, are expected to fund the company's operating expenses and capital expenditure requirements until the second half of 2026.
Aura Biosciences is a biotechnology company focused on developing novel therapies for the treatment of cancer. Arix Bioscience is a transatlantic venture capital company that invests in breakthrough biotechnology companies. The company collaborates with entrepreneurs and provides capital, expertise, and global networks to accelerate the development of innovative treatments for patients. Arix Bioscience is listed on the London Stock Exchange.