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Year after going public, Arix Bioscience looking to raise another £100M

Arix Bioscience PLC is looking to raise £100 million to develop its product pipeline and acquire medicines that hold promise.

The London-based life science company, which went public in early 2017, is looking to issue 44,444,444 new shares at £2.25 each, made up of the 24,444,442 shares that will be sold under a firm placing and another 20,000,002 stock that will be offered to the public.

Arix was also looking to raise £100 million in its IPO.

The firm placing will see the participation of China's Fosun International Ltd. as well as France's Ipsen SA, which are investing £25 million and £15 million in the company, respectively. Arix's existing investors, UCB SA and Takeda Pharmaceutical Co. Ltd., will funnel £10 million under the firm placing.

Arix Bioscience said it had reviewed a total of 845 potential opportunities across a full breadth of therapeutic areas as of Dec. 31, 2017.

The company expects to close the financing in March.