Malin to raise over €40m, announces $80m investment in Immunocore
Malin, the biotech investor firm led by John Given and former Elan chief Kelly Martin, is to raise €40m through the placing of shares.
The company also said it will invest $80m in Immunocore as part of a $320m financing round.
Malin chief executive Adrian Howd and director Kelly Martin will join board of immunocore while the move will be financed through its own cash reserves.
Meanwhile, the placing price is €10.99 per share to raise gross proceeds of up to approximately €42m.
Participation in the placing is available primarily to eligible existing institutional shareholders only and expressions of interest have already been received from a small number of such shareholders, the company said today.