Arix Bioscience plc: Team changes

Arix Bioscience plc (“Arix” or “the Company”) (LSE: ARIX), a global venture capital company focused on investing and building breakthrough biotech companies, today announces that Mark Chin will be re-joining the Arix investment team as a Managing Director effective immediately.

Mark previously spent four years at Arix from 2016 to 2020 as an Investment Director. Mark sourced and led deals in key Arix portfolio companies, including: VelosBio (acquired by Merck for $2.75bn), Amplyx Pharmaceuticals (acquired by Pfizer), Aura Biosciences, Harpoon Therapeutics (Nasdaq IPO) and Imara (Nasdaq IPO). He has extensive venture capital expertise in early to late stage investing and significant experience as a board member, of both private and public companies in the US and Europe. Since leaving Arix in 2020, Mark has remained a director of Harpoon Therapeutics, Inc. (Nasdaq: HARP), Imara Inc. (Nasdaq: IMRA) and Iterum Therapeutics plc (Nasdaq: ITRM). Mark is based in New York and will work to source and evaluate new investment opportunities and support existing venture investments through to exit.

Dr. Christian Schetter, Managing Director, has resigned from the investment team and will leave the Company on 31 August 2021. Dr. John Cassidy, Principal, had previously resigned from the investment team and will leave the Company on 30 July 2021. Following the changes announced on 30 April 2021, the Board continues to develop the Company’s strategy and evaluate the appropriate team structure. The Board will work closely with Mark Chin to rebuild the Company's investment team, adding new talent to deploy investment capital and manage the Company’s existing portfolio.

After five years at Arix, Marcus Karia, Group Finance Director, will leave the Company later this year to pursue other opportunities. Marcus will continue in his role until a search for his successor is completed.

Robert Lyne, Interim CEO of Arix, commented: “I am very pleased to welcome Mark back to Arix. Mark is a talented investor and has played an instrumental role in the development of Arix, identifying and leading a number of high quality investments, which have made a significant contribution to the strong performance across Arix’s portfolio. Mark will work closely with the Board to determine Arix’s future investment strategy and will play a pivotal role in building the investment team and shaping the Company’s future.

“On behalf of the Company I would like to thank Christian, John and Marcus for their valuable contribution to Arix. We wish them all the best for the future.”

Mark Chin, Managing Director at Arix, added: “Biotech is now recognised as one the most important sectors to society: the vaccine response to the pandemic and recent breakthroughs in oncology and other diseases underscore its disruptive potential. Having seen first-hand the novel technologies Arix has fueled, and with the significant capital available to us, I am excited to help identify and build the next generation of innovative biotech companies based on cutting-edge science and world-class leadership.”

Peregrine Moncreiffe, Chairman of Arix, commented: “The Board is determined to optimise Arix’s contribution to the biotech sector in Europe and the US and believes that its reconstituted investment team will generate superior risk-adjusted returns for our shareholders.”

About Arix Bioscience plc

Arix 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.