BioCentury
ARTICLE | Finance

Malin's fast start

Ex-Elan execs launch evergreen healthcare fund Malin for private investments

March 9, 2015 7:00 AM UTC

A little more than a year after Perrigo Co. acquired Elan Corp. plc for $9.2 billion, a handful of ex-Elan executives, including former CEO Kelly Martin, have launched Malin Corp. plc, a new life sciences investment fund that will be publicly listed on the Irish Stock Exchange. While the IPO process is ongoing, the team hasn't wasted any time and has already committed up to two-thirds of the fund to seven investments.

On March 5, Malin announced its intention to raise €275-€325 million ($307.8-$363.8 million) in an IPO. In a statement, Malin said about 60% of the placing has been agreed to by two cornerstone investors, Woodford Investment Management and the Ireland Strategic Investment Fund, along with individual investors. ...