DUBLIN--(BUSINESS WIRE)--Malin Corporation plc (ISE:MLC,“Malin”), an Irish-based global life sciences company, today announced that it has secured a debt facility of €70 million over a period of 7 years from the European Investment Bank (“EIB”). The support from the EIB will enable Malin to increase its investment in innovation and research across the dynamic and fast-growing segments of the European life sciences industry, particularly in Ireland and the UK where over 60% of Malin’s existing investments have been made.
Kelly Martin, Chief Executive of Malin said: “The EIB debt facility is further external validation of Malin’s unique business model. The alignment of long duration capital with substantial and demonstrated operating expertise around a broad array of life science assets provides a unique opportunity to create and unlock value. This loan provides Malin with additive non-dilutive capital that can then be judiciously deployed to accelerate the progression of current and prospective Malin investee companies.”
Mr. Martin added: “Along with the EIB, Malin embraces and enthusiastically supports the philosophy of long-term investment and lending in order to enable tangible innovation throughout the EU. Success in providing for a longer term platform within discovery and innovation should provide the ingredients for creating sustainable European based and industry leading global life sciences companies.”
The extensive review and rigorous due diligence process by the EIB affirms the quality of Malin’s assets, shareholders, investment strategy and financial controls. The debt facility will be disbursed in up to five tranches and Malin intends to draw down the first tranche in the near term.
"The European Investment Bank is pleased to support Malin's work in transforming cutting-edge research and development into successful innovative companies across Europe, in particular Ireland and the UK. This represents the European Investment Bank's first support for life science investment in Ireland demonstrating its commitment to ensuring that world class research can enhance effective medical treatment and improve medicine." said Jonathan Taylor, European Investment Bank Vice President.
About Malin Corporation plc.
Malin (ISE:MLC) is an Irish incorporated public limited company. Its purpose is to create shareholder value through the selective long-term application of capital and operational expertise to private, pre-IPO, pre-trade sale operating businesses in dynamic and fast growing segments of the life sciences industry. Through its operational involvement, Malin works with its investee companies to enable them to reach the full potential of their value proposition and to achieve commercial success. For more information visit www.malinplc.com.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.