Dublin based life sciences company Malin Corporation has secured a €70m, seven year debt facility from the European Investment Bank. 

The Dublin listed company invests in and provides expertise to late stage ventures in its sector with a view to helping them achieve commercial success.

In a statement, the company said the funds will help accelerate the progress of those investee companies.

"Along with the EIB, Malin embraces and enthusiastically supports the philosophy of long-term investment and lending in order to enable tangible innovation throughout the EU," commented the company's chief executive Kelly Martin. 

"Success in providing for a longer term platform within discovery and innovation should provide the ingredients for creating sustainable European based and industry leading global life sciences companies," Mr Martin added.

The investment represents the European Investment Bank's first support for life science investment in Ireland.

This demonstrates "its commitment to ensuring that world class research can enhance effective medical treatment and improve medicine," commented Jonathan Taylor, the European Investment Bank's Vice President.