Adrian Howd, chief investment officer, Malin
Malin, the life sciences company based in Ireland, today announced that it has agreed to invest up to $30m in acquiring a shareholding of up to approximately 31%.
Poseida is a privately held human therapeutics company focused on the development of novel therapies using engineering technologies, which can be applied to a vast array of human diseases.
Poseida is currently developing gene therapies for orphan liver diseases and therapies for cancer.
Under the terms of the transaction, Malin invested $20m in Poseida with a commitment to a possible further investment of $10m in 2016.
CEO of Malin, Kelly Martin and Malin chief investment officer, Adrian Howd, will join the board of Poseida.
Adrian Howd said: “Poseida offers Malin innovative science in the gene therapy, immuno-oncology and gene editing spaces, with utility across multiple therapeutic areas. Genome engineering offers a major advancement in therapy and this transaction reflects our belief that Poseida provides another best-in-class asset which will contribute to long-term value for our shareholders.”
Eric Ostertag, CEO of Poseida, added: “This investment by Malin will accelerate our therapeutics pipeline, including our unique CAR-T therapeutics and our first-in-class gene therapy products, which have the potential to cure patients with a single treatment. We are excited to work with Malin to provide new therapeutic options to patients with significant unmet medical need.”