REG - Malin Corp PLC - Immunocore closes $75m Series C Financing

MalinAnnouncement

11/01/2021 13:10

RNS Number : 2690L
  
Malin Corporation PLC
  
11 January 2021
  
 

Malin Corporation plc
 
Immunocore announces completion of $75 million Series C Financing
 
Dublin-Ireland, 11 January 2021: Malin Corporation plc. (Euronext Growth Dublin:MLC) (Malin), a company investing in highly innovative life sciences companies, reports that Immunocore Limited (Immunocore), a Malin investee company, has today announced the completion of a $75 million Series C private financing round. Led by an existing investor in Immunocore, the Series C financing included support from existing investors and funds and accounts managed by BlackRock. 
 
The proceeds will enable Immunocore to further expand and accelerate its growing clinical stage pipeline of ImmTAXTM molecules, including its lead programme, tebentafusp (IMCgp100). Malin did not participate in the financing round and the completion of the round had a marginal dilutive impact on Malin's ownership interest which remains at 7% of the issued share capital of Immunocore. 
 
Immunocore also announced that it has closed a $100 million senior secured loan facility with Oxford Finance LLC and intends to use the loan proceeds for general corporate purposes and to have available as needed to fund a potential commercial launch of tebentafusp.
 
Today's announcements come after Immunocore announced in November 2020 that tebentafusp had demonstrated superior overall survival compared to investigator's choice in a Phase 3 clinical trial of patients with previously untreated metastatic uveal melanoma, a rare and aggressive form of melanoma which affects the eye. If approved, Immunocore believes tebentafusp would be the first new therapy for the treatment of metastatic uveal melanoma in 40 years. 
 
Immunocore is a late-stage biotechnology company developing a novel class of TCR bispecific immunotherapies called ImmTAX designed to treat a broad range of diseases, including cancer, infectious and autoimmune. Immunocore has five clinical stage programmes in oncology and infectious diseases, advanced pre-clinical programmes in autoimmune diseases and multiple earlier pre-clinical programmes. 
 
A copy of Immunocore's press release is available on the company's website.
 
 
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About Malin Corporation plc
Malin (Euronext Growth Dublin:MLC) is a company investing in highly innovative life sciences companies. Its purpose is to create shareholder value through the application of long-term capital and operational and strategic expertise to a diverse range of global healthcare businesses. Malin has a focus on innovative businesses underpinned by exceptional science and works with its investee companies, providing strategic and financial support to enable them to reach their value potential. Malin is headquartered and domiciled in Ireland and listed on the Euronext Growth Dublin. For more information visit www.malinplc.com  

For further information please contact:
 
Malin 
Jessica Bergin, Investor Relations & External Reporting
Tel: +353 (0)1 901 5700
investorrelations@malinplc.com
 
Davy Corporate Finance (Euronext Growth Adviser & Joint Broker)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
 
Liberum (Joint Broker)
Bidhi Bhoma / Euan Brown
Tel: +44 (0) 20 3100 2000
 
Powerscourt (Irish Media enquiries)          
Eavan Gannon
Tel: +353 87 236 5973                            
malin@powerscourt-group.com  

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