Malin Corporation PLC Poseida Raises $110 Million in Series D Financing (1206R)
25 June 2020 - 11:11PM
UK Regulatory
TIDM0Y71
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 EUR111 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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