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Malin Corporation plc. ("Malin"), an Irish-based global life sciences company, today announced that it has agreed to invest up to $30 million in Poseida Therapeutics, Inc. ("Poseida"), to acquire a shareholding of up to approximately 31%.
Poseida is a US-based, privately-held human therapeutics company focused on the development of novel therapies using its ground-breaking proprietary genome engineering technologies. The company's platform technologies can be broadly applied to a vast array of human diseases. Poseida is currently developing gene therapies for orphan liver diseases and autologous Chimeric Antigen Receptor T-cell (CAR-T) therapies for cancer. In addition to its internal pipeline of product candidates, the company has an existing alliance with Janssen Biotech (JNJ) to develop allogeneic CAR-T therapies for the treatment of various cancers. Recent clinical data has shown that the CAR-T approach offers significant therapeutic potential.
Under the terms of the transaction, Malin invested $20 million in Poseida with a commitment to invest a further $10 million in 2016 subject to the achievement of certain milestones. CEO of Malin, Kelly Martin and Malin Chief Investment Officer, Adrian Howd, Ph.D, will also join the Board of Poseida.
Adrian Howd, Chief Investment Officer of Malin, said: "Poseida offers Malin innovative science in the gene therapy, immuno-oncology and gene editing spaces, with utility across multiple therapeutic areas. Genome engineering offers a major advancement in therapy and this transaction reflects our belief that Poseida provides another best-in-class asset which will contribute to long term value for our shareholders."
Eric Ostertag, M.D. Ph.D., CEO of Poseida, added: "This investment by Malin will accelerate our therapeutics pipeline, including our unique CAR-T therapeutics and our first-in-class gene therapy products, which have the potential to cure patients with a single treatment. We are excited to work with Malin to provide new therapeutic options to patients with significant unmet medical need."
About Malin Corporation Plc.
Malin is an Irish incorporated public limited company. Its purpose is to create shareholder value through the selective long-term application of capital and operational expertise to private, pre-IPO, pre-trade sale operating businesses in dynamic and fast growing segments of the life sciences industry. Through its operational involvement, Malin works with its investee companies to enable them to reach the full potential of their value proposition and to achieve commercial success. For more information visit www.malinplc.com
About Poseida Therapeutics Inc.
Poseida is a therapeutics-focused biotechnology company using best-in-class genome engineering technologies to develop novel, life-saving treatments, including gene therapies for orphan liver diseases and immuno-oncology therapeutics for several types of cancer. Poseida's lead product candidates include a gene therapy treatment for the rare liver disease Progressive Familial Intraheptatic Cholestasis 3 and an autologous CAR-T therapeutic for multiple myeloma. Poseida is also partnered with Janssen Biotech (JNJ) to develop allogeneic CAR-T therapies for various cancers. Poseida owns several industry-leading technologies, including the piggyBacTM DNA Modification System, XTNTM TALEN and NextGENTM CRISPR site-specific nucleases, and Footprint-FreeTM Gene Editing (FFGE).
For further information please contact:
Malin Media Relations
Tel: +353 1 901 5717
Davy Corporate Finance (ESM Adviser)
Eugenée Mulhern/Daragh O'Reilly
Tel: +353 1 679 6363