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On 23 October 2026, Malin Corporation plc announced that the US FDA did not approve Mycovia Pharmaceuticals' Supplemental New Drug Application for the anti-fungal drug Vivjoa in its present form. Consequently, Malin expects to write off the €11.3 million carrying value of its investment in Viamet Pharmaceuticals during the second half of 2026. Adjusting for this write-down, Malin's updated IPEV fair value estimate is €5.84 per share, down from €8.28 per share as of 24 August 2026.
| Date | 23 Oct 2026 |
| Time | 07:00:03 |
| Category | Miscellaneous |
| ID | 1354A |
This announcement contains inside information
Investee Company update - Viamet
Dublin-Ireland, 23 October 2026: Malin Corporation plc (Euronext Growth Dublin: MLC) (“Malin” or the “Company”), a company investing in innovative life sciences companies, today provides an update in respect of its investment in Viamet Pharmaceuticals (NC), Inc (“Viamet”) and Mycovia Pharmaceuticals Inc, (“Mycovia”). Mycovia was the acquirer of Viamet’s lead anti-fungal drug Vivjoa in 2018.
Mycovia had submitted a Supplemental New Drug Application (“sNDA”) to the US Food & Drug Administration (“the FDA”) to broaden the patient population for Vivjoa. As recently noted in the Company’s half year results release on 26 August 2026, the carrying value of Viamet within Malin’s portfolio could be materially impacted by the result of the FDA review. Mycovia has now received a complete response from the FDA, with the FDA not approving the sNDA in its present form. While Malin and its partners are studying this response and the options open to it, it is expected that Malin will write off the carrying value of its investment in Viamet during the second half of 2026, which was previously held at a carrying value €11.3m as at 24th August 2026.
This will have a significant impact on Malin’s estimate of the fair value of our investee company holdings, conducted in accordance with International Private Equity and Venture Capital Valuation (“IPEV”) guidelines. Adjusting for a full write down in the value of Viamet, the updated IPEV estimate would be €5.84 per share (previously €8.28 per share as at 24th August 2026).
For further information please contact:
Malin
Andrea Stafford, Head of Finance/Company Secretary
Tel: +353 (0)1 905 3531
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