Malin investee company Poseida Therapeutics files for potential US IPO

Life sciences investment company Malin said on Monday that its investee company Poseida Therapeutics has filed for a potential initial public offering (IPO) on the Nasdaq Global Select Market.

The clinical-stage biotech company, based in San Diego, California, has filed a registration statement with the US Securities and Exchange Commission relating to a proposed IPO 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 offering have not yet been determined.

While the registration statement relating to these securities has been filed with the SEC, it has not yet become effective.

Davy suggests that a sale of Poseida could net about $1.25 billion/€1 billion by December 2019, which, given Malin’s 33 per cent stake, could result in a “significant” return for the Irish company.

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Malin also said on Monday that Immunocore, a UK biotech company in which it has a 10 per cent stake, has appointed a new chief executive. Bahija Jallal has joined the company from AstraZeneca, where she was president and head of its global biologics research and development unit, MedI mmune. During her time at MedImmune, she oversaw significant growth in the AstraZeneca biologics pipeline across a range of disease areas.

Jean-Michel Cossery, non-executive director of Malin and Malin’s Immunocore board designate, said that Ms Jallal is “ideally suited” to lead the company as it focuses on the approaching biologics license application submission for its lead asset, IMCgp100 and progressing its broad pipeline.

“Immunocore is a Malin priority portfolio asset and Bahija’s appointment will support this company’s momentum towards the creation of value for patients and investors,” he said.