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