Prothena — the former drug discovery division of Irish biotech company Elan — is set to begin life as a stand-alone public company this week through a Nasdaq listing.

Elan is to hive off its drug discovery division Neotope Biosciences and continue as a profitable standalone company — a move which has heightened speculation that it is trying to position itself as a takeover target.

ISEQ-listed biotechnology company Elan announced today that it is to be the main sponsor of the ninth International Conference on Alzheimer’s Disease and Related Disorders.