.

Sanofi announces decision not to submit amlitelimab in atopic dermatitis for global regulatory reviews

Dublin-Ireland, 27 July 2026: Malin Corporation plc (Euronext Growth Dublin:MLC) (Malin), a company investing in highly innovative life sciences companies, today provides an update in respect of its contingent consideration receivable in relation to its former investee company, Kymab.

In April 2021, Sanofi (EURONEXT: SAN and NASDAQ: SNY) acquired all outstanding shares of Kymab for an upfront payment of approximately $1.1 billion and up to $350 million of contingent consideration upon achievement of specific clinical and commercial milestones relating to amlitelimab. Malin owned approximately 10% of the issued share capital of Kymab and received $112.7 million (€95.4 million) as its share of the upfront payment from Sanofi. In February 2024, Malin received a payment of $7.1 million (€6.5 million) by way of contingent consideration. At 31 December 2025, Malin estimated that the maximum remaining consideration which Malin could receive equated to $7 million and the fair value estimate of Malin's share of the contingent consideration amounted to €2.9 million at 31 December 2025 (23 February 2026: €3.3 million).

On 24 July 2026, Sanofi announced the discontinuation of clinical development of amlitelimab, an OX40-ligand monoclonal antibody, in moderate-to-severe atopic dermatitis (AD). This decision not to submit for global regulatory reviews was made as part of an ongoing strategic assessment of the pipeline.

Sanofi has determined that the totality of efficacy and safety evidence generated to date does not support further development of amlitelimab in AD. While the ESTUARY phase 3 long-term extension study (clinical study identifier: NCT06407934) showed long-term maintenance of clinical response without relapse in patients aged 12 years and older with moderate-to-severe AD and an emerging safety profile that builds on previous data, amlitelimab would not represent a meaningful improvement to the standard of care for patients with AD. Additional results from the amlitelimab development program in AD, including from the ESTUARY study, will be presented at a forthcoming medical meeting.

Malin are very disappointed with this development as previous announcements relating to Amlitelimab had been very positive. This announcement will reduce Malin's 2026 year end valuation of its remaining interest in the Kymab contingent consideration to nil and will be disclosed as a post period event in the upcoming 2026 Interim Financial Statements.

For further information please contact:

Malin

Andrea Stafford, Head of Finance/Company Secretary

Tel: +353 (0)1 905 3531

[email protected]

Davy Corporate Finance (Financial Adviser, Euronext Growth Listing Sponsor & Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 1 679 6363

Sodali & Co (Media enquiries)        

Eavan Gannon

Tel: +353 87 236 5973                           

[email protected]