REG - Malin Corp PLC - Kymab appoints Chief Executive Officer

MalinAnnouncement

08/04/2019 12:30

RNS Number : 4662V
Malin Corporation PLC
08 April 2019
 


 
Malin Corporation plc
 
("Malin")
 
Kymab appoints Simon Sturge as Chief Executive Officer
 
-     Malin owns approximately 8% of Kymab, a Malin Priority Asset -
 
Dublin-Ireland, 8 April 2019: Malin Corporation plc (Euronext Growth Dublin:MLC), a company investing in highly innovative life sciences companies, is pleased to note that Kymab, one of Malin's Priority Assets, has appointed pharmaceutical veteran, Simon Sturge, as its Chief Executive Officer, effective 1 May 2019.
 
Simon Sturge will join from Merck KGaA, where he was Executive Vice President Global Strategy, Business Development & Global Operations. Previously, he was Chief Operating Officer of Merck Healthcare, responsible for the company's global commercial and manufacturing operations. Over the past five years, he has been responsible for the continued growth in global sales at Merck KGaA, as well as the commercial launches of products, including BAVENCIO® (anti-PD-L1 avelumab) in solid tumours and MAVENCLAD® (cladribine) for relapsing multiple sclerosis.  
 
"Simon Sturge's appointment as CEO of Kymab strengthens the company's management team at a crucial time for Kymab when the company has two clinical-stage lead candidates in development," said Jean-Michel Cosséry, Non-Executive Director of Malin and Malin's Kymab Board designate. "Simon's extensive clinical, regulatory, business development and commercial knowledge and experience will greatly benefit the company across all stages of its maturity. At the same time, we note David Chiswell's significant contribution and leadership of Kymab over the past many years and thank him."
 
Malin owns approximately 8% of Kymab and carried its investment in Kymab at a fair value estimate of €28.7 million at 31 December 2018 under International Private Equity and Venture Capital Valuation guidelines.
 
A copy of Kymab's press release is available to view here:
https://www.kymab.com/news-and-events/news/2019/apr/8/kymab-appoints-simon-sturge-ceo/
 
ENDS
 
For further information, please contact:
 
Malin
Jessica Bergin, Director of Investor Relations & External Reporting
Tel: +353 (0)1 901 5700
investorrelations@malinplc.com
 
Consilium Strategic Communications
Mary-Jane Elliott / Jessica Hodgson
Tel: +44 (0)20 3709 5700
malin@consilium-comms.com
 
Powerscourt (Irish media enquiries)              
Eavan Gannon                                              
Tel: +353 87 236 5973                            
malin@powerscourt-group.com                                                                          
 
Davy Corporate Finance (ESM Adviser)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
 
About Malin Corporation plc
Malin (Euronext Growth Dublin:MLC) is a company investing in and supporting highly innovative life sciences companies developing exceptional science and technology to deliver transformative outcomes for patients and create significant value for shareholders. Its purpose is to create shareholder value through the application of long-term capital and strategic support to its investee companies 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 
 
 




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