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Arix Bioscience’s stake in LogicBio to soar in value once gene editing biotech floats in New York

Arix reckons the value of its stake will more than triple, but it isn’t cashing in just yet, instead it wants to buy up more shares at the IPO
LogicBio is a preclinical gene editing biotech which is developing therapies for rare diseases

Arix Bioscience Plc’s (LON:ARIX) stake in LogicBio Therapeutics is set to be worth at least four times more once the gene editing specialist floats in New York.

On Tuesday, LogicBio announced it would be selling shares at between US$12-14 as part of its initial public offering, valuing the company at almost US$270mln post-money.

READ: Arix forges partnership with Fred Hutch and Evotech

That would mean Arix’s stake, which is currently valued at just shy of £5mln, would be worth somewhere between £20.8mln and £24.3mln post-IPO.

Rather than cashing in, the healthcare investor has indicated an interest in buying up some more shares in the IPO.

Arix shares were unchanged at 175p in late-morning trade on Wednesday.

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