Malin acquires one third stake in UK drug firm
Irish life sciences firm Malin has announced it has acquired a 33pc stake in Wren Therapeutics.
Wren Technologies specialises on treating misfolding diseases such as Alzheimers, Parkinson’s and type-2 diabetes.
Wren is a recently founded firm with a focus on drug discovery. The company is based in Cambridge in the UK and was formed from a partnership between Cambridge university and Lund university in Sweden.
Under the terms of the deal, Malin has an option to increase its shareholding in Wren to 67pc. Malin ceo, Kelly Martin and Malin Chief Investment Officer, Adrian Howd, will also join the board of Wren.
“The creation of Wren provides an example of what is possible to accomplish at the intersection of a unique idea or set of ideas, clarity in understanding particular human health needs, diverse - in their approaches and backgrounds - world class talent and, importantly access to long term, unencumbered and business aligned capital,” Kelly Martin said.
Prof. Chris Dobson, of Cambridge college said:
"Alzheimer's disease and its related conditions are currently incurable and represent a huge and increasing challenge to global health care in the 21st century. Wren is built on the results of many years of scientific research into the fundamental origins of these conditions, and is uniquely placed to develop rational therapeutic strategies based on the novel principles that have emerged from such studies. We are delighted to have the opportunity to work with Malin to create a programme that is directed at delivering much needed treatments to patients suffering from these debilitating illnesses.