Malin Corporation plc
Poseida Therapeutics Announces Pricing of Public Offering of Common Stock following its Announcement of a Strategic Global Collaboration with Roche
Dublin-Ireland, 4 August 2022: Malin Corporation plc. (Euronext Growth Dublin:MLC) (Malin), a company investing in highly innovative life sciences companies, is pleased to note that its investee company, Poseida Therapeutics, Inc. (Poseida), has announced that it has entered into a broad strategic collaboration and license agreement with Roche, focused on developing allogeneic CAR-T therapies directed to haematologic malignancies.
The global collaboration with Roche covers the research and development of multiple existing and novel "off-the-shelf" cell therapies against targets in multiple myeloma, B-cell lymphomas and other haematologic indications.
On 3 August, 2022, it was announced that under the agreement Poseida will receive $110 million upfront and could receive up to $110 million in near-term milestones and other payments in the next several years. In total, Poseida is eligible to receive research, development, launch, and net sales milestones and other payments potentially up to $6 billion in aggregate value, as well as tiered net sales royalties into the low double digits, across multiple programs. The effectiveness of the agreement is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act).
Poseida today also announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock at a public offering price of $3.50 per share. The gross proceeds to Poseida from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $70 million. In addition, Poseida has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock.
Malin will acquire approximately 2.2 million shares in the offering for consideration of approximately $7.5 million. Malin's equity stake in Poseida following the completion of the offering will be approximately 14%.
A copy of Poseida's press releases are available to view below:
· Poseida's Strategic Collaboration press release 3 August 2022 - Link
· Poseida's Public Offering Pricing press release 4 August 2022 - Link
ENDS
About Malin Corporation plc
Malin (Euronext Growth Dublin:MLC) is a company investing in highly innovative life sciences companies. Its purpose is to create shareholder value through the application of long-term capital and operational and strategic expertise to a diverse range of global healthcare businesses. Malin has a focus on innovative businesses underpinned by exceptional science and works with its investee companies, providing strategic and financial support 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
For further information please contact:
Malin
Fiona Dunlevy, Company Secretary
Tel: +353 (0)1 901 5700
investorrelations@malinplc.com
Davy Corporate Finance (Euronext Growth Listing Sponsor & Joint Broker)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
Liberum (Joint Broker)
Phil Walker / Ben Cryer
Tel: +44 (0) 20 3100 2000
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Eavan Gannon
Tel: +353 87 236 5973
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