Arix Bioscience PLC (LON:ARIX), the biotech-focused venture capital group, announced that its portfolio company Autolus Therapeutics announced the pricing of its IPO in the US.

The biopharma, which is developing next-generation programmed T cell therapies, looks to raise US$100mln (£72mln) by placing 14mln American depositary shares (ADS) at US$7 each.

READ: Arix Bioscience says its managing director to depart for new post

All ADSs sold in the offering were offered by Autolus, which has granted the underwriters a 30-day option to purchase up to an additional 2mln ADSs at the public offering price.

The offering is expected to close on Friday, after which Arix will hold a 5.1% stake in Altus.

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