Malin shares dip slightly despite strong progress

The Irish drug development investment company took in €160m from the sale of two of its investments

Irish drug development investment company Malin Corporation took in €160m from the sale of two of its investments, one being the company Kymab to drugs giant Sanofi.

Shares in Malin Corporation, the Irish drug development investment company, fell slightly despite its annual results showing strong progress over the past 12 months.

Malin took in €160m from the sale of two of its investments, one being the company Kymab to drugs giant Sanofi; closed the year with a corporate cash balance of €33m; returned over €95m in excess capital to shareholders, and paid off the remaining €45m in debt owed to the European Investment Bank.