DUBLIN Funding continues to flow to European biotech, with Cardio3 Biosciences SA and Quantum Genomics SA raising €32 million (US$36 million) and €12.9 million (US$14.44 million), respectively, in secondary offerings last week. Both transactions confirm the current appetite among investors for European biotech, but a much sterner test of that support is on the near-term horizon, as a new Irish-American firm Malin Corp. plc unveiled ambitious plans to raise €275 million to €325 million in an IPO in Dublin shortly.
Malin is building a global portfolio of life sciences companies to which it will offer high-level operational expertise as well as capital. It has strong links with the former Elan organization, the long-time flagship of Ireland's life sciences sector, which Dublin-based Perrigo Co. plc acquired in 2013.
Former Elan CEO Kelly Martin and former chairman Bob Ingram are on its board. Its CEO is former