Sunday 29 January 2017 7:26 pm

Biotech giant backed by Sir Chris Evans set to float in London for up to £100m this year

UK healthcare giant Arix Bioscience, backed by bitoech entrepreneur Sir Chris Evans and City high fliers, is gearing up to float on the London Stock Exchange over the next couple of months, industry insiders have told City A.M.

The company, which is headquartered in London, could raise up to £100m in its initial public offering this year.

Arix Bioscience, which focuses on developing businesses addressing medical innovation, is backed by star investor Neil Woodford's eponymous firm Woodford Investment Management among other institutional investors.

Read more: Johnson & Johnson is buying Europe's largest biotech firm for $30bn

Top bosses of the biotech firm include chief executive Joe Anderson, a former partner at life science investment firm Abingworth, and chairman Jonathan Peacock who was formerly chief financial officer of  pharma giants Amgen and Novartis.

In April last year, Arix Bioscience stumped up $25m (£20m) towards a strategic partnership with BioMotiv, a US-based pharmaceutical accelerator to support innovative discoveries by universities.

Arix Bioscience declined to comment.