REG - Malin Corp PLC - Poseida Raises $110 Million in Series D Financing

Poseida TherapeuticsAnnouncement

25/06/2020 15:15

RNS Number : 1206R
  
Malin Corporation PLC
  
25 June 2020
  
 

Malin Corporation plc
 
Poseida Raises $110 Million in Private Financing Round 
 
Dublin-Ireland, 25 June 2020: Malin Corporation plc. (Euronext Growth Dublin:MLC) (Malin), a company investing in highly innovative life sciences companies, today notes that Poseida Therapeutics, Inc. (Poseida), a clinical-stage biopharmaceutical company and one of Malin's Priority Assets, has announced the closing of a Series D financing round, raising $110 million, led by funds advised by Fidelity Management Research Company, LLC, with participation from several new institutional investors.
 
Proceeds from the financing will be used to advance the company's ongoing clinical trials, expand the research and development of Poseida's pipeline programmes, as well as general corporate expenditure. Malin did not participate in the financing round and the completion of the round will not materially increase the last disclosed fair value estimate of Malin's investment in Poseida of €111 million at 31 December 2019.
 
Poseida has filed a registration statement on Form S-1 (Registration Statement) with the US Securities and Exchange Commission (SEC) relating to a proposed initial public offering in the US of shares of Poseida's common stock.
 
Poseida has applied to list its common stock on the Nasdaq Global Select Market under the symbol "PSTX". The number of shares of common stock to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions. 
 
The Registration Statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the Registration Statement becomes effective. The offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained from the SEC's EDGAR database and contains further information relating to Poseida.
 
This press release does not constitute an offer to sell or the solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
 
Poseida is a clinical-stage biopharmaceutical company based in San Diego, California, dedicated to utilising its proprietary non-viral gene engineering platform technologies to create next generation cell and gene therapeutics with the capacity to cure. 
 
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  

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
 
Consilium Strategic Communications 
Mary-Jane Elliott / Chris Welsh
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  


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