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On 01 May 2024, Malin Corporation plc announced that its investee company, Poseida Therapeutics, Inc., entered into a research collaboration and licensing agreement with Xyphos Biosciences Inc., a wholly owned subsidiary of Astellas Pharma Inc. The agreement aims to combine their respective cell therapy platforms to develop two convertibleCAR® product candidates. Poseida will receive US $50 million upfront, with potential development and sales milestones and contingency payments of up to US $550 million, plus tiered royalties.
| Date | 1 May 2024 |
| Time | 17:30:00 |
| Category | Acquisitions and alliances |
| ID | 8940M |
Malin Corporation plc
Poseida Therapeutics Announces Research Collaboration and Licensing Agreement with Astellas
Dublin-Ireland, 1 May 2024: Malin Corporation plc. (Euronext Growth Dublin:MLC) (Malin), a company investing in highly innovative life sciences companies, notes that its investee company, Poseida Therapeutics, Inc. (Poseida), has announced that it has entered into a research collaboration and licensing agreement with Xyphos Biosciences Inc. (a wholly owned subsidiary of Astellas Pharma Inc.) (Xyphos) to develop novel convertibleCAR® programs by combining the innovative cell therapy platforms from each of the companies.
Under the terms of the agreement, the companies plan to combine Poseida's proprietary allogeneic CAR-T platform with Xyphos' ACCEL™ technology to create one Poseida-developed CAR-T construct to form the basis of two convertibleCAR® product candidates targeting solid tumours.
Xyphos will reimburse Poseida for costs incurred as part of the research agreement and will be responsible for the development and future commercialisation of products generated from the collaboration. Poseida will receive US $50 million upfront plus potential development and sales milestones and contingency payments of up to US $550 million in total. Additionally, Poseida is eligible for up to low double digit tiered royalties as a percentage of net sales.
A copy of Poseida's press release is available to view here: Poseida Press Release 1 May 2024.
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
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