Former Elan boss Kelly Martin returns to take over at Malin
Kelly Martin, the man who saved Ireland's biggest drug company Elan from debt annihilation before selling it to Perrigo for $8.6bn, is to become chief executive at Irish listed biotech investor Malin, as it moves into its next stage of development.
Martin and chairman John Given had been key to the setting up of Malin, which raised €330m in Europe's biggest biotech IPO last March, to invest in a portfolio of assets in promising life science groups.
The firm has invested in 'deep science' firm Kymab, which is developing a revolutionary technology which may be capable of treating cancers. The Bill Gates foundation is a fellow backer.
It has invested in groups ranging from acne drug group Novan, African speciality pharma and distribution group Serenus, germ-zapping robot group Xenex (which may be used against Ebola) and medical device maker Emba, which has a product which may be used by emergency services and the military to deal with gunshot wounds. Recently it ploughed €73m into Immunocore, one of the hottest pharma firms on the market.
Malin CEO Adrian Howd is to become the chief investment officer, operating out of the firm's new Cambridge office. He will assume the pivotal role of developing the company's assets.
Chairman John Given is also to take up more executive functions as Malin helps its investee companies develop their products and become more valuable.
Sunday Indo Business