Malin Corporation Shares Jump 37% on Roche Acquisition of Poseida

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Malin Corporation,Roche,Poseida

Malin Corporation, a Dublin-based life sciences investment firm, experienced a significant rise in its share price following the news that Roche, a Swiss pharmaceuticals giant, has agreed to acquire Poseida, a Nasdaq-listed biopharma company in which Malin holds a 12% stake, for up to $1.5 billion.

Malin Corporation, the Dublin-based life sciences investment firm, saw its share soar 37 per cent in early trading on Tuesday after the company behind its most valuable investment agreed to be taken over by Swiss pharmaceuticals giant Roche. Photograph: Philipp Schmidli/Bloomberg

Shareholders are set to receive $9 per share at the closing of the deal early next year, and much as $4 per share subject to Poseida, which has a number of treatments in clinical trials as it focuses on the fields of oncology, immunology, and neurology. The now-abandoned €45 million buyback was planned as a way of handing out proceeds from Malin’s sale of its stake in a company called CG Oncology.

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