Industry & Business

Malin, an Irish-based company set up by a number of former Elan executives is to invest in privately held life science assets, Poseida Therapeutics.

The deal will see Malin acquire a 31pc stake in Poseida, which is working on treatments for liver disease and cancer using genome engineering described by Malin as “ground-breaking”.

Poseida is a US-based, privately-held human therapeutics company using genome engineering technologies to develop novel, life-saving treatments, including gene therapies for orphan liver diseases and immuno-oncology therapeutics for several types of cancer.

The company is currently developing gene therapies for orphan liver diseases and autologous Chimeric Antigen Receptor T-cell therapies. It also has an alliance with Janssen Biotech to develop allogeneic CAR-T therapies for the treatment of various cancers.

Under the terms of the transaction, Malin will invest $20 million in Poseida with a commitment to invest a further $10 million in 2016 subject to the achievement of certain milestones. CEO of Malin, Kelly Martin and Malin Chief Investment Officer, Adrian Howd, Ph.D, will also join the Board of Poseida.

Malin chief investment officer 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.”