March 2015: Malin Corporation

Pictured: Paul Acton, director of manufacturing, health and life sciences at SAS and Dr Adrian Howd, CEO, Malin

Malin’s recent €330m IPO is one of Europe’s biggest ever after the firm exceeded its initial €275m-€325m target range.

Malin Corporation, a newly- incorporated Irish-based global life sciences company, announced in March that it has raised up to €330m in one of Europe’s largest IPOs.

Dr Adrian Howd, CEO of Malin said he was very gratified at the level of investor support and commitment the company has received throughout this process. “Malin can now deploy capital to our operating businesses and we are excited about future opportunities that will now arise with the completion of the placing.”

Howd added:“We have already assembled a rare group of privately held life science assets across the US, Europe and Africa. These assets, together with a number of additional operating assets to be sourced, provide investors with exposure to a breadth of innovations across science, technology and geographies.

“The Malin team look forward to applying our operational expertise to unlock the significant potential and create value for shareholders.”

Malin will now apply its long-term capital and operational and strategic expertise to a select number of private life science companies.

Equity position

The company will acquire majority or significant minority equity positions in private, pre IPO, pre trade sale operating businesses in the life sciences industry with post-investment valuations in the region of $10m to $250m. Through its ‘hands on’ operational involvement, Malin aims to work with these companies to enable them to reach the full potential of their value proposition and to achieve commercial and sustainable success. Malin will broadly categorise its interest in the life sciences industry across therapeutics, devices and diagnostic market segments.

Acquisition opportunities

Malin has already identified and entered into acquisition and investment agreements, and has total committed expenditure in respect of these companies of approximately €100m with a further amount of up to €120m of follow-on investment options or investments subject to contingent commitments. Malin will also seek to make a number of further acquisitions and investments post its flotation.

John Given, chairman of Malin, said: “We are delighted at the quality of global, UK and Irish investors who have participated in the offering and who share our long-term vision for Malin. This alignment will help us achieve our goal of creating value for shareholders by building a globally significant life sciences company with world-class scientific and business leadership from our Irish base.”

Given added: “The commitment to invest in Malin by a select group of key investors, notable for their business acumen, long-term approach to investing and enviable track record, reflects their collective confidence in Malin’s board and its executive team’s proven industry expertise.”