REG - Malin Corp PLC - Poseida Announces Pricing of Public Offering

MalinAnnouncement

04/08/2022 16:15

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RNS Number : 9912U  Malin Corporation PLC  04 August 2022

Malin Corporation plc

 

Poseida Therapeutics Announces Pricing of Public Offering of Common Stock
following its Announcement of a Strategic Global Collaboration with Roche

 

Dublin-Ireland, 4 August 2022: Malin Corporation plc. (Euronext Growth
Dublin:MLC) (Malin), a company investing in highly innovative life sciences
companies, is pleased to note that its investee company, Poseida Therapeutics,
Inc. (Poseida), has announced that it has entered into a broad strategic
collaboration and license agreement with Roche, focused on developing
allogeneic CAR-T therapies directed to haematologic malignancies.

 

The global collaboration with Roche covers the research and development of
multiple existing and novel "off-the-shelf" cell therapies against targets in
multiple myeloma, B-cell lymphomas and other haematologic indications.

 

On 3 August, 2022, it was announced that under the agreement Poseida will
receive $110 million upfront and could receive up to $110 million in near-term
milestones and other payments in the next several years. In total, Poseida is
eligible to receive research, development, launch, and net sales milestones
and other payments potentially up to $6 billion in aggregate value, as well as
tiered net sales royalties into the low double digits, across multiple
programs. The effectiveness of the agreement is subject to clearance under the
Hart-Scott-Rodino Antitrust Improvements Act (HSR Act).

 

Poseida today also announced the pricing of an underwritten public offering of
20,000,000 shares of its common stock at a public offering price of $3.50 per
share. The gross proceeds to Poseida from the offering, before deducting
underwriting discounts and commissions and other estimated offering expenses,
are expected to be approximately $70 million. In addition, Poseida has granted
the underwriters a 30-day option to purchase up to an additional 3,000,000
shares of its common stock.

 

Malin will acquire approximately 2.2 million shares in the offering for
consideration of approximately $7.5 million. Malin's equity stake in Poseida
following the completion of the offering will be approximately 14%.

 

A copy of Poseida's press releases are available to view below:

 

·    Poseida's Strategic Collaboration press release 3 August 2022 - Link
(https://investors.poseida.com/news-releases/news-release-details/poseida-therapeutics-announces-strategic-global-collaboration)

·    Poseida's Public Offering Pricing press release 4 August 2022 - Link
(https://investors.poseida.com/news-releases/news-release-details/poseida-therapeutics-announces-pricing-public-offering-common)

 

ENDS

 

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 (http://www.malinplc.com/)

For further information please contact:

 

Malin

Fiona Dunlevy, Company Secretary

Tel: +353 (0)1 901 5700

investorrelations@malinplc.com (mailto:investorrelations@malinplc.com)

 

Davy Corporate Finance (Euronext Growth Listing Sponsor & Joint Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 1 679 6363

 

Liberum (Joint Broker)

Phil Walker / Ben Cryer

Tel: +44 (0) 20 3100 2000

 

Powerscourt (Media enquiries)

Eavan Gannon

Tel: +353 87 236 5973

malin@powerscourt-group.com (mailto:malin@powerscourt-group.com)

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