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19/11/2018 07:30

RNS Number : 6937H
Malin Corporation PLC
19 November 2018
 


Immunocore expands existing discovery collaboration with Genentech
-     Malin owns approximately 10% of Immunocore, a Malin Priority Portfolio Asset -
 
 
Dublin-Ireland, 19 November 2018: Malin Corporation plc. (ISE:MLC), a company investing in highly innovative life sciences companies, is pleased to note the announcement today by investee company, Immunocore Limited, of a new partnership with Genentech to expand an existing discovery collaboration.
 
Immunocore and Genentech, a member of the Roche Group, will now co-develop Immunocore's therapeutic candidate IMC-C103C, an ImmTAC® molecule targeting tumours that express the protein MAGE-A4 (Melanoma-Associated Antigen A4). A first-in-human clinical trial of IMC-C103C is scheduled to commence in 2019 in multiple solid tumour indications.
 
Under the terms of the agreement, Genentech will pay Immunocore $100 million in upfront and near-term milestone payments. Upon establishing proof-of-concept data, Immunocore retains an option to continue to co-develop IMC-C103C through commercialisation, or to fully license the candidate to Genentech in return for royalty and milestone payments.
 
Darragh Lyons, Chief Business and Financial Officer of Malin said: "This positive news of Immunocore's latest partnership, focused on delivering transformative treatments for patients with solid tumours, is a great example of a potential value creation catalyst from Malin's newly identified Priority Asset Group. We believe this validates the broader momentum of Malin's portfolio."
 
Malin owns approximately 10% of Immunocore and carried its investment in Immunocore at €85.1 million at 30 June 2018 in its portfolio fair value estimate under International Private Equity Valuation guidelines.
 
A copy of the Immunocore press release announcing the discovery collaboration with Genentech can be found at: https://www.immunocore.com/news-hub
 
 
ENDS
 
For further information, please contact:
 
Malin
Jessica Bergin, Director of Investor Relations & External Reporting
Tel: +353 (0)1 901 5700
investorrelations@malinplc.com
Powerscourt (Ireland PR)            Consilium Strategic Communications (UK PR)
Eavan Gannon                                               Mary-Jane Elliott / Jonathan Birt
Tel: +353 87 236 5973                                  Tel: +44 (0)20 3709 5700
malin@powerscourt-group.com       malin@consilium-comms.com
Davy Corporate Finance (ESM Adviser)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
About Malin Corporation plc
 
Malin (ISE: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 Euronext Dublin. For more information visit www.malinplc.com 




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