Dear client
We have notified that the Schroders Capital Global Innovation Trust plc is pleased to announce that its portfolio company Araris Biotech AG ("Araris"), a Swiss biotechnology company developing next-generation antibody drug conjugates, has entered into an agreement to be acquired by Taiho Pharmaceutical Co. Ltd., the acquisition is expected to be completed in first half of 2025.
At a purchase price of $400 million upfront, with the potential for additional milestone payments of up to $740 million.
The estimated value of the Company's holding is approximately £19.5m, reflecting a positive valuation increase of £16.7m from £2.8m as of 30 September 2024. The impact on the Company's net asset value will be assessed in the 31 March 2025 publication. The full upfront proceeds from the sale will increase the initial return of capital from £10 million to £28.7 million, with the return occurring shortly after receiving the initial proceeds.
Affected ISIN: GB00BVG1CF25
Please see link to the original notification details: https://www.londonstockexchange.com/news-article/INOV/sale-of-araris-biotech/16943903
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Kind regards
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