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Sunday 4 December 2016

Malin to invest up to $30m in gene therapy company Poseida Therapeutics

Published 16/12/2015 | 09:28

Adrian Howd, Malin chief investment officer, Taoiseach, Enda Kenny, Kelly Martin, Malin CEO and Malin chairman John Given at the launch of Malin's IPO
Adrian Howd, Malin chief investment officer, Taoiseach, Enda Kenny, Kelly Martin, Malin CEO and Malin chairman John Given at the launch of Malin's IPO

Irish life sciences business Malin is to invest up to $30m in gene therapy company Poseida Therapeutics.

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The deal will see Malin acquire a 31pc stake in the business, which is working on treatments for liver disease and cancer using genome engineering described by Malin as "ground-breaking".

Malin will pay $20m up front, with a further $10m contingent on certain targets.

"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," Malin chief investment officer Adrian Howd said.

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