Malin Corporation Plc

Earnings Release • Aug 11, 2020

National Storage Mechanism | Additional information

RNS Number : 7623V

Malin Corporation PLC

11 August 2020

Malin Corporation plc

Kymab reports positive Phase 2a clinical data in atopic dermatitis

·    Efficacy & safety primary endpoints met

·    Data exceed Kymab management expectations

·    Malin has secured an additional 2% of Kymab, with the share transfer transaction expected to close in August

Dublin-Ireland, 11 August 2020: Malin Corporation plc. (Euronext Growth Dublin:MLC) (Malin), a company investing in highly innovative life sciences companies, is pleased to note that Kymab Limited (Kymab), a clinical-stage biopharmaceutical company and one of Malin's Priority Assets, has announced today that it has met the efficacy and safety primary endpoints in its Phase 2a clinical study for patients with moderate to severe atopic dermatitis. Kymab also announced that additional data would be available during the fourth quarter of this year, specifically persistence of response data.

"We are very encouraged by the Phase 2a data announced by Kymab today, which exceed expectations in many respects," said Darragh Lyons, Malin Chief Executive Officer. "These data support the potential of this antibody to benefit patients in multiple inflammatory diseases. The mechanism of action of the antibody has the potential to modify disease rather than treating symptoms. We look forward to additional data over the coming months."

A copy of Kymab's press release is available to view here: https://www.kymab.com/news-and-events/news/2020/aug/11/kymab-announces-positive-phase-2a-results-ky1005-m/

Malin currently holds approximately 8% of the issued share capital of Kymab but has secured additional shares equating to approximately 2% of the issued share capital as part of the shareholder pre-emption process related to the transfer of Link Equity Income Fund's (formerly Woodford Equity Income Fund) shareholding in Kymab to a third party. The pre-emption process concluded at the end of July and we expect the transfer of shares to Malin to be completed later this month bringing Malin's ownership of Kymab to approximately 10% of the issued share capital. The additional shares acquired will be initially valued at the same value per share as Malin valued its current 8% holding in Kymab at 31 December 2019. The revised fair value estimate of Malin's 10% stake in Kymab will be approximately €35 million. This fair value estimate does not take account of the Phase 2a data in atopic dermatitis, which will be reflected when the full data set is available later this year.

Kymab is a clinical-stage biopharmaceutical company based in Cambridge, UK, developing a deep pipeline of novel antibody-based therapies in a broad range of indications. The company generates its product candidates using its proprietary, integrated platforms collectively called IntelliSelect®. Kymab's platforms have been designed to maximise the diversity of human antibodies produced in response to immunisation with antigens. Selecting from a broad diversity of fully human antibodies allows for the identification of antibodies with optimal drug-like properties.

This announcement contains inside information for the purposes of the Market Abuse Regulation (EU) No 596/2014 (MAR).

ENDS

About Malin Corporation plc

Malin (Euronext Growth Dublin:MLC) is a company investing in highly innovative life sciences companies. Its purpose is to create shareholder value through the application of long-term capital and operational and strategic expertise to a diverse range of global healthcare businesses. Malin has a focus on innovative businesses underpinned by exceptional science and works with its investee companies, providing strategic and financial support to enable them to reach their value potential. Malin is headquartered and domiciled in Ireland and listed on the Euronext Growth Dublin. For more information visit www.malinplc.com 

For further information please contact:

Malin

Jessica Bergin, Investor Relations & External Reporting

Tel: +353 (0)1 901 5700

investorrelations@malinplc.com

Davy Corporate Finance (Euronext Growth Adviser & Joint Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 1 679 6363

Liberum (Joint Broker)

Bidhi Bhoma / Euan Brown

Tel: +44 (0) 20 3100 2000

Consilium Strategic Communications

Mary-Jane Elliott / Chris Welsh

Tel: +44 (0)20 3709 5700

malin@consilium-comms.com 

Powerscourt (Irish Media enquiries)         

Eavan Gannon

Tel: +353 87 236 5973                            

malin@powerscourt-group.com  

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