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Malin invests $35m

Dublin-based global biotech investment fund Malin has invested $35m (€31m) in US firm Melinta Therapeutics, its first new asset post IPO. It has also committed to investing a further $10m.

This brings the number of operating assets in Malin to eight.

Melinta Therapeutics is a private company developing novel antibiotics to treat bacterial infections.

Malin will join founding investors, Vatera Healthcare Partners, and other existing investors in a Series 4 funding round of up to $67m.

Malin completed one of Europe's biggest biotechnology IPOs earlier this year after raising €330m in a placing in Dublin.