Arix Bioscience plc signs strategic agreement with Takeda
LONDON, 2 MARCH 2017: Arix Bioscience plc (LSE:ARIX) ("Arix Bioscience" or "the Company"), a global healthcare and life science company supporting medical innovation, today announces a strategic agreement with Takeda Ventures, Inc. ("Takeda").The agreement will maximise the complementary skills and experience of both Arix and Takeda across important therapeutic areas.The relationship brings together the unique combination of entrepreneurial business building, investing and industry operating skills at Arix with the deep industry experience of Takeda, to the mutual benefit of both businesses.Arix will provide Takeda with access to deal flow and a specialist team across its activities to create and incubate companies in partnership with Takeda, guided by a joint advisory committee comprising five appointees from both companies. Takeda has identified the fields of oncology and gastrointestinology as areas of particular interest.Takeda invested in Arix's recent £100 million (gross) initial public offering on the Main Market of the London Stock Exchange.Joe Anderson, Chief Executive Officer of Arix Bioscience plc, commented: "Arix and Takeda have a common goal in sourcing and building the best innovation in healthcare and life sciences."Through this agreement with Takeda we can draw upon a wealth of experience in identifying, creating and growing companies to develop innovative new therapies and further develop existing and new group businesses, accelerating their growth and creating value for our investors."Michael Martin, Global Head of Takeda Ventures, Inc., added: "Arix has an experienced team whose specialist knowledge, capability and network has the potential to identify and grow innovative companies of the future. Within our focus areas of oncology and GI, and more broadly, we are confident that this agreement provides an opportunity to remain at the forefront of life science developments."