TIDM0Y71
RNS Number : 7596U
Malin Corporation PLC
02 April 2019
Malin Corporation plc
Full Year 2018 Results
Strong operational progress across investee companies
Dublin-Ireland, 02 April 2019: Malin Corporation plc. (Euronext
Growth Dublin:MLC) ("Malin", the "Company"), a company investing in
highly innovative life sciences companies, today publishes its full
year results and annual report for the year ended 31 December
2018.
Commenting on the results, Darragh Lyons, Chief Business &
Financial Officer, said:
"We are pleased by the operational and clinical progress made by
our Priority Assets during 2018, with several advancing towards
important clinical and regulatory milestones over the next year. We
will continue to work closely with these companies to support them
as they progress towards these catalysts, which have the potential
to create significant value for our shareholders. We remain
committed to returning capital to shareholders following a
significant asset realisation."
Financial highlights from 2018 Full Year Results
-- The fair value of Malin's assets, estimated in accordance
with the International Private Equity Valuation & Venture
Capital Guidelines, was EUR404 million at 31 December 2018
-- Malin's corporate cash balance was EUR43 million at 31 December 2018
-- Malin's debt balance with the European Investment Bank was EUR55 million at 31 December 2018
Priority Asset highlights
-- Poseida progressed a Phase 1 study of its lead CAR-T
programme, P-BCMA-101, reporting positive data and advanced the
late-stage pre-clinical development of other candidates
-- Immunocore progressed a pivotal trial of its lead candidate,
IMCgp100, towards interim analysis; made important executive
management appointments; completed a co-development / co-promote
deal with Genentech for its MAGE-A4 target; and filed a number of
INDs
-- Kymab reported positive data from a Phase 1 study of its lead
candidate, KY1005 anti-OX40L, and initiated a Phase 2a study in
atopic dermatitis; filed an IND for its KY1044 anti-ICOS candidate;
and advanced its discovery and preclinical antibody pipeline
-- Viamet completed the structured sale of its lead asset,
VT-1161, to NovaQuest, with the potential of significant and
recurring cash flows from milestones and sales royalties
Growth Potential Assets
-- Malin will continue to support the progression of these
assets as they work towards potential value inflection and
maturation points.
Malin's annual report and further information on Malin is
available at www.malinplc.com, under the Investors' section.
Outlook
-- Several of Malin's assets have important milestones in the
year ahead which have the potential to create significant value for
shareholders including:
o Poseida: Initiation of registrational clinical trial for its
lead programme, an autologous CAR-T therapy for multiple
myeloma
o Immunocore: Interim analysis of the single arm study data from
its lead programme, targeting metastatic uveal melanoma
o Kymab: Phase 2a data for its lead programme, a monoclonal
antibody treating atopic dermatitis
o Growth Potential Assets: Several clinical and commercial
milestones
-- The Company is focused on supporting these assets through
their upcoming important milestones and is committed to returning
capital to shareholders in the event of a significant asset
realisation
-- The Company is committed to maintaining an efficient business
structure and will add additional expertise within the future
investment focus area when this is needed
Corporate Update Conference Call
There will be a conference call for analysts and investors today
at 12:00pm Irish Standard Time/BST. The call will be hosted by Ian
Curley, Executive Chairman, and Darragh Lyons, Chief Business &
Financial Officer, and will include a Q&A session.
Analysts and investors wishing to participate in the call should
use the following details:
Standard International dial-in: +44 (0) 2071 928000
Ireland dial-in: +353 (0)1 4319615
US dial-in: +(1) 8669661396
Conference ID: 7559243
Presentation slides will be available on Malin's website,
www.malinplc.com, under the Investors' section, from 11:45am Irish
Standard Time/BST.
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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