Former Elan directors to float biotech investor

Malin, an Irish company set up by a number of former Elan executives to invest in privately held life science assets, plans to raise between €275m and €325m in one of Europe’s biggest biotechnology IPOs.

Former Elan chief executive Kelly Martin and chairman Bob Ingram, who sold the Irish stock market stalwart to Perrigo for $8.6bn in 2013, will sit on the board of the new company formed out of private firm Brandon Point Industries.

Malin said it will invest in companies for whom an initial public offering (IPO) or trade sale is premature and provide the long-term capital and industry experience it says venture capital and private equity funds cannot guarantee.