Good afternoon, ladies and gentlemen, and welcome to the Malin Corporation update call, which follows the release of Malin's interim financial statements for the six month period to June 30, 2021 this morning. I will now hand over to Jessica Bergin, Director of Investor Relations. Good afternoon, ladies and gentlemen, welcome to today's call. I'm joined on the call today by Darragh Lyons, our Chief Executive Officer, and Darragh will be walking through our 2021 interim results presentation, which is available within the investors section of our website, malinplc.com. On today's call, Darragh will provide some of the highlights on our progress in 2021 to date, what that means for our intrinsic equity value per share, and he will look ahead to the milestones we are targeting for the remainder of this year and into 2022. There will be an opportunity for questions at the end of the call. Finally, may I please draw your attention to the disclaimer contained within the presentation. Thank you, and I'll now hand over to Darragh. Good afternoon, ladies and gentlemen. As you're aware, we issued our interim financial statements for the first half of 2021 this morning. That document includes a detailed management summary of all of the updates from our investee companies and Malin in the year-to-date. Respecting your time and in an effort to make this call as efficient and useful for all of you as possible, I'm going to keep the prepared remarks pretty concise and then open up the call to questions. We're very pleased with the progress made by Malin and our investee companies during 2021 to date. Several important clinical and operational milestones were achieved by our companies over the past year or so. This positive momentum has catalyzed transactional opportunities for our companies, some of which we have seen executed during 2021 to date. The highlights of 2021 to date are included on slide three of the presentation. They include the sale of Kymab to Sanofi that closed in April, yielding Malin a $113 million share of the upfront consideration, with the potential for up to $33 million of additional milestone-related payments in the future. We were also pleased with the successful Nasdaq IPO executed by Immunocore back in February, in which the company raised $312 million. This gives them extended capital runway to get through several important clinical milestones that I'll refer to later in the call, as well as possible product approval and launch of tebentafusp, which we expect in Q1 2022, following the acceptance of a product approval application by U.S. and EU regulators in recent days. We announced the sale of Altan to Ethypharm in June. Malin will receive EUR 68 million upon the close of that sale. That's a near 100% return on our investment in Altan. The sale, which is subject to competition authority approvals, remains on track to complete within the next few months. Viamet's successor company, Mycovia, delivered a very positive phase III data for its antifungal drug, which has oteseconazole, that we believe will support a product approval in RVVC by early 2022. Finally, Poseida's progress in advancing its universal donor or allogeneic version of the CAR-T technology into the clinic, with first patients expected to be dosed in the coming months, as well as the company's very encouraging early data update on its PSMA-targeting solid tumor CAR-T program. They recently announced there'll be a further update on that program next week. Turning to the financial highlights on Slide four. The sale of Kymab and the imminent disposal of Altan has significantly strengthened our balance sheet, and we held cash of EUR 58 million at 30 June. Malin's share of the upfront consideration paid by Sanofi for Kymab is $113 million, of which $105 million, or EUR 88 million, was received upon the close of the sale in April, with the remainder due to be received within the next 18 months. We used EUR 45 million of the cash proceeds received to repay our outstanding EIB debt in full, we also used almost EUR 10 million to buy back over 1.5 million Malin shares at a weighted average price of EUR 6.34 per share, thereby taking advantage of the significant discount our shares trade at relative to our estimated intrinsic value per share. The close of the Altan sale in the coming months will further strengthen our balance sheet, with Malin's share of the sale proceeds equating to approximately EUR 68 million. We have previously announced our expectation to execute a significant return of capital to shareholders following the close of the Altan sale. We will provide an update on this once the Altan sale goes through. Our cash operating costs for the first half of the year were EUR 1.4 million, which is in line with previous guidance. The positive performance of our investee companies, as well as their transactional activity, has resulted in an increase in our estimate of the intrinsic value per share since year-end, which can be viewed on Slides five and six of the presentation. The intrinsic value per share is calculated by taking the aggregate of the total fair value estimate of our investee companies, plus or minus our cash or net debt, and dividing that by our outstanding number of ordinary shares. The intrinsic value per share at 30 June was EUR 9.24 per share, an increase of 9% since 31 December 2020, driven by the divestment proceeds of Kymab and Altan and the higher fair value estimate of Immunocore following its Nasdaq IPO back in February. As of close of markets yesterday, our intrinsic value per share had decreased to EUR 8.83 per share, primarily driven by the softer market value of Immunocore since June. Immunocore's only update to the market in this period was to confirm the acceptance ahead of forecast for both its EU and U.S. product approval applications for tebentafusp. We believe that the lower market value is driven by market dynamics only. In fact, the decline in share price is directly correlated with softness seen in the broader U.S. biotech sector in that July-August period. Immunocore has significant milestones in the month ahead, which we hope will greatly enhance its market value. There are plenty of potential value inflection points that we are looking forward to over the remainder of the year and into 2022 across our investee companies. Some of these are highlighted on slide seven of the presentation. For Immunocore, the recently announced acceptance of the U.S. and European approval applications for tebentafusp by the FDA and European Medicines Agency puts the company on course to have this drug commercially launched in both Europe and the U.S. by early 2022. We also expect to see some initial data from the Genentech-partnered MAGE-A4 program before the end of 2021. Proof of concept data on the proprietary program targeting PRAME, that we believe represents Immunocore's largest commercial opportunity, should be available by mid-2022. On Poseida, we expect that they'll start dosing patients with its allogeneic or universal donor version of the BCMA-targeting CAR-T therapy over the next few months. That could facilitate a data update on this program as well as their autologous version of the BCMA program before the end of 2021. The company will also present a data update next week, as I referred to, on its prostate cancer program, another potentially groundbreaking clinical program in targeting solid tumors with CAR-T. As I mentioned, the company previously gave a very encouraging but early update on that program. We also expect Poseida to file an IND for its next universal donor product candidate, which targets the antigen MUC1-C, again, a solid tumor target, and that's expected before the end of this year. After a relatively quiet period of news flow from Poseida since its IPO, as it progressed those programs through, we're expecting a lot of clinical updates and progress from Poseida over the next six to nine months. For Viamet, we expect its successor company, Mycovia, to gain a commercial approval by the end of this year or very early 2022 for oteseconazole, which will result in the initiation of milestone and royalty payments to Viamet shareholders, including Malin during 2022 and beyond. For Altan, we expect to complete the sale to Ethypharm over the coming months and further bolster our cash reserves by the EUR 68 million share of the sales proceeds. For Xenex, we're targeting a normalized revenue growth trajectory for that business following the surge in sales last year driven by the pandemic, alongside the execution of some business initiatives to further differentiate the technology and hopefully increase market penetration. The potential of these various milestones to create further value from where we are today is illustrated on slide eight of the presentation. We've made good progress in seeing value growth within our assets over the past few years, and we've been able to exploit opportunities to realize value at what I believe was optimal value inflection points in the case of Altan, Kymab, and 3D4Medical. However, there is further significant value creation possible from our remaining assets over the next 12 months or so. That assertion is based on the current estimates of the value of our companies and considering the very significant milestones that these companies have in the months ahead, most of which I've highlighted on the previous slide. In conclusion, we're well-placed as we look forward to the remainder of the year and into 2022. With the close of the Altan transaction, we will have an even stronger debt-free balance sheet, which we expect will enable the initiation of capital returns to our shareholders before the end of this year. We look forward to a busy period of clinical milestones in our companies, as you've heard. Further successful milestone achievement can catalyze further transactional and realization activity for Malin and our investee companies. We remain focused on working with our companies to fully develop the value potential of these businesses and to exit our positions at the best value inflection points and at the optimal time. Our primary focus remains on maximizing the returns we can make for our shareholders, and this guides all of our strategies and actions. I'll now hand over the call to the operator who will open it up for Q&A. Thank you, Darragh. Ladies and gentlemen, if you'd like to ask a question, please press star followed by one on your telephone keypad now. To withdraw your question, please press star followed by two, and when preparing to ask your question, please ensure that your device is unmuted locally. Our first question today comes from Allan Smylie of Davy. Allan, please go ahead. Hi, Darragh. Hi, Jessica. It's Allan at Davy. I have a few questions just to kick off. Hi, Darragh. Just firstly on the portfolio. On Poseida, you flagged a number of upcoming milestones in the coming months, and this may be a hard question to answer. Could you help us frame how to think of those potential milestones in terms of materiality, if successful? That'd be helpful. Secondly, on Immunocore, what impact do you think getting product approval on their lead product could have on the rest of the pipeline? That'll be interesting. Then on Malin specifically, to the extent, Darragh, you want to answer this, once Altan is approved, how should we think about timeframes of initiating capital returns? To the extent you want to comment on the quantum and/or format of those returns as well, would be interesting. Thanks. Okay. Yeah. Thanks, Allan. On Poseida, I think in a word, the potential of those milestones is very, very significant. Because they're essentially all groundbreaking, hopefully technology advancements. Allogeneic is obviously an off-the-shelf product. We've seen good efficacy from CAR-T in high unmet needs of various forms of cancer. To date, mainly hematological cancers. I think that the move to an off-the-shelf product with matching or even slightly inferior efficacy obviously makes the administration of that therapy and opening it up to a wider patient group much more possible. We've seen some other companies with very early data in the allogeneic setting. The likes of Allogene. They're multibillion-dollar companies, and they've shown pretty modest data to date. I think the significance on the allogeneic technology is very significant, and we've spoken about that for quite a while as being something we were really looking forward to. The other major advancement that we've sort of seen develop on Poseida, based on early data, is the potential of CAR-T therapy in solid tumors where, as you know, there's pretty limited efficacy seen using CAR-T therapy in solid tumors to date. The early data on this PSMA program, which is targeting a very difficult-to-treat group of patients, many of which are on fourth, fifth-line therapy. The early data there at very low dose levels is extremely encouraging. We're excited to see what further data the company will publicly release next week at the CAR-TCR summit. I think both have huge significance. Either one would capitalize, I think, a huge, hopefully, growth in value of Poseida. I think the current market cap of Poseida is very modest when you consider the amount of cash even they have on the balance sheet, the fact that they have both a cell therapy and a gene therapy platform. I think the potential there with plenty of clinical news flow to come over the next year is very significant. On Immunocore, I suppose there's nothing majorly new on Immunocore from a clinical point of view over the past while. We highlighted before the fact that, I suppose the validation that the approval of tebentafusp gives the entire platform, which is essentially a new form of, or a new modality, is significant. Obviously, the progression of that from phase III data into their applications for approval being accepted is a welcome progression. It doesn't surprise us because we've obviously already seen the phase III data, which has been public. I think getting into MAGE-A4 and PRAME, which are applicable to much larger groups of patients and much more prevalent tumor types is a very significant potential value inflection point for that company as well. We'll see major data, I think, before the end of this year. Your final question in terms of return, I suppose we're waiting on the competition approvals to go through in a few jurisdictions. They're progressing very well. We're on track to get that closed over the next two months, as I said. We'll be able to inform the market of the process to return capital beyond that. That's really all. I suppose we've no definitive timeline. It's out of our hands in some ways, as it always is in these sort of situations as to how quickly Altan will close. We will be in a position to return capital quickly after that deal goes through. Great, Darragh. Thank you. That's very clear. Thanks. Thank you. Our next question comes from Alistair Campbell of Liberum. Alistair, please go ahead. Hi there. Afternoon, everyone. Hi, Darragh. Good talking to you. Hi, Alistair. Just got three questions from me, actually, if that's okay. The first one is, look, I know you've been spending a lot of your time working with Altan. I'll have to say, it's great to see that come to fruition with the Ethypharm deal. I guess the first question is, I'm wondering with that pretty much now delivered, as far as you're concerned, what's the next top priority on your personal to-do list in the company? Second question is on the Xenex. I suppose just looking through the press release, clearly it's been a very strong first half of the year. One slight disappointment I could point to is just we've seen obviously a slight dip in the IVS valuation on Xenex by the looks of things. Can you give us a sense of what's been going on there in terms of revenue and what you think the normalized revenue growth trajectory should look like? My final question is on oteseconazole. Obviously, we're hoping that will get approved fairly soon. I just wonder if you can give us an update, what you know about Mycovia, their commercialization strategy. Just remind us, if you can, your economics on that product as it rolls out. Thanks. Thanks, Alistair. I guess in terms of the priority really, my priority over the next few months, it is really, I suppose, in terms of helping the remainder of the portfolio progress, executing upon that commitment that we made two years ago in terms of returning capital. Looking to see some further realization events from the portfolio so that we can sort of continue down that track. I think step one is obviously seeing out and close, making that return, and then hopefully seeing some further progress from the rest of the portfolio to exits and further positions at optimal value inflection points, which I think is possible over the next 12 months or so. In terms of Xenex, I suppose Xenex had a fantastic year in 2020. We have stated before, it more than trebled its revenue levels in 2020. There's clearly not the same manic focus on disinfection in 2021. I still think the business will more than double its pre-pandemic revenue levels in 2021. Looking beyond that, there's I think very good growth opportunities within that business. They're working on couple of interesting business initiatives there at the moment. One has the potential of further differentiating the robot versus competitors and clearly mark it out as the leading technology in the space. Another is more business-focused, possibly making the robot more accessible and improving their margins. There's a few balls in the air there in addition to letting sort of the base business settle at what I think is going to be a much higher basis level compared to pre-pandemic. In terms of the valuation, the valuation on Xenex is pretty subjective because they haven't had a requirement to raise money in quite a while. It's just really the adjustment down to the valuation technique that we use and looking out to forecast this year versus last year is really the small impact on valuation. I think with some further progress in the business, I think we'll have a more validated view of the value of that business over the next six to 12 months. On oteseconazole, Mycovia, I suppose we're obviously somewhat distant from Mycovia in terms of what their commercialization plans are. They are building up their sales force. Personally, I think a transaction through either out-license to U.S. or sell the company is probably more likely. That's just a view from looking in from the outside because they are a separate entity to us. In terms of our economics then, there's various milestones which we have set out insofar as possible before that we can achieve based on commercial successes and approvals across all jurisdictions. In U.S., Europe and Asia where development efforts are all ongoing. Upon approval and we will get an approval milestone and sales royalties will start flowing from the U.S. market in 2022. We'd expect somewhere in the region of EUR 10 million-EUR 15 million of inflows from Viamet during 2022. Potentially even better depending on how quickly the product is launched and obviously dependent on sales. Great. Thanks, Dara. That's very helpful. Obviously I saw the corporate level cash burn rate in H1 was about EUR 1.4 million. Is that the sort of run rate we should still be thinking about as we roll forward from here as well? Yeah. Okay. Cool. Brilliant. Thanks. Thank you. We have no further questions in the queue. I'll hand back to Darragh Lyons for closing remarks. Okay. Thank you for all dialing in and we'll be in touch based on progress and over the coming months. Thanks. Ladies and gentlemen, this concludes today's call. Thank you for joining. You may now disconnect your line.