Malin invests a further €34.5m in Altan Pharma

Malin, the life sciences- focused investment vehicle, run by former Elan executives, has announced a €34.5m investment in Altan Pharma, its second major investment in as many days.

Earlier this week, Malin — which recently raised €330m from its IPO on the secondary market of the Irish Stock Exchange — announced a $35m (€31m) initial investment in US drug development firm, Melinta Therapeutics, with the commitment in place for a further $10m investment over the coming 12 months.

While the Melinta deal sees Malin take an initial minority stake in the firm, yesterday’s Altan announcement covers a controlling 65% shareholding.