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Arix Taps Australia's 'Undervalued' Pharmaxis As First VIPE, More Planned

 
• By Sten Stovall

UK-listed Arix completed its first Venture Investment in Public Equity (VIPE), leading a A$24m (£13.4m) investment in Australian biotech Pharmaxis.

Incubator Fund Arix takes an 11% stake and board seat at Pharmaxis • Source: Shutterstock

Arix Bioscience PLC's ongoing search for quality science and value potential has prompted it to make its first Venture Investment in Public Equity (VIPE) with Australian listed Pharmaxis Ltd., gaining in the process an 11% stake and seat on the biotech's board.

A VIPE is a venture-style investment made usually in a small, relatively low valued public company, where an investor buys a significant holding, take a board seat, and plays an active role in developing the business, supporting the company in the same way as a venture investment, providing access to expertise and networks as required

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