Malin invests €31m in Melinta Therapeutics

Life sciences-focused investment firm Malin has invested $35m (€31m) for a minority stake in US-based drug development firm Melinta Therapeutics.

The move marks Malin’s first investment since its successful initial public offering in March, which raised €330m. There are now eight operating assets under the Malin portfolio and the company has committed to invest a further $10m in Melinta in the next year.

Malin grew out of Dublin-based firm Brandon Point Industries. It is backed by Woodford Investment Management and the Irish Strategic Investment Fund, and has numerous former Elan senior executives including former CEO, Kelly Martin on its board of directors.