Malin Corporation PLC Poseida raises $142 million in Series C Financing (7135W)
April 23 2019 - 1:00AM
UK Regulatory
TIDM0Y71
RNS Number : 7135W
Malin Corporation PLC
23 April 2019
Malin Corporation plc
Poseida raises $142 million in Private Financing Round led by
Novartis Pharma AG
Dublin-Ireland, 23 April 2019: Malin Corporation plc. (Euronext
Growth Dublin:MLC) ("Malin"), a company investing in highly
innovative life sciences companies, is pleased to note that Poseida
Therapeutics ("Poseida"), one of Malin's Priority Assets, has
announced the closing of a Series C financing round, raising $142
million, led by a $75 million equity investment from Novartis
Pharma AG ("Novartis"). Several new institutional investors
participated alongside current investors, including Malin who
invested $4 million as part of the financing transaction. The
financing round was completed at a premium to the value at which
Malin based its Poseida fair value estimate at 31 December
2018.
Commenting on the transaction, Darragh Lyons, Malin Chief
Business & Financial Officer, said: "We are pleased with the
completion of this private financing transaction by Poseida.
Novartis' significant participation serves as additional validation
of Poseida's high-quality and differentiated pipeline and
technology platforms with broad utility.
"Poseida has significantly strengthened its balance sheet
position and expanded its institutional investor base as the
company moves into an important phase of clinical development,
including initiating a registrational study for its lead product
candidate and the advancement of three further programmes into the
clinic.
"Following the completion of this financing transaction and as
the company enters this exciting phase of development including
gathering more mature data in its ongoing clinical trials, Poseida
is well-positioned to further engage with potential strategic
interests.
"Malin retains an ownership interest in Poseida of approximately
one-quarter of the issued share capital and we look forward to
working alongside Novartis and the other new investors to help the
company progress and achieve its upcoming important
milestones."
A copy of Poseida's press release is available to view here:
https://poseida.com/poseida-therapeutics-raises-142-million-in-series-c-financing/
ENDS
For further information, please contact:
Malin
Jessica Bergin, Director of Investor Relations & External
Reporting
Tel: +353 (0)1 901 5700
investorrelations@malinplc.com
Consilium Strategic Communications
Mary-Jane Elliott / Jessica Hodgson
Tel: +44 (0)20 3709 5700
malin@consilium-comms.com
Powerscourt (Irish media enquiries)
Eavan Gannon
Tel: +353 87 236 5973
malin@powerscourt-group.com
Davy Corporate Finance (Euronext Growth Adviser)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
About Malin Corporation plc
Malin (Euronext Growth Dublin:MLC) is a company investing in and
supporting highly innovative life sciences companies developing
exceptional science and technology to deliver transformative
outcomes for patients and create significant value for
shareholders. Its purpose is to create shareholder value through
the application of long-term capital and strategic support to its
investee companies to enable them to reach their value potential.
Malin is headquartered and domiciled in Ireland and listed on the
Euronext Growth Dublin. For more information visit
www.malinplc.com
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END
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