Poolbeg Pharma seeks admission to trade on AIM

Thu, 17th Jun 2021

The boards of Open Orphan and Poolbeg Pharma have announced Poolbeg's intention to seek admission of its shares to trading on AIM. Funds raised as part of Admission will be used primarily to fund the clinical trial costs associated with the development of the Company's POLB 001 asset as a treatment for severe influenza and to acquire and develop new portfolio assets. Jeremy Skillington, CEO of Poolbeg Pharma, said: 'The Covid-19 pandemic has placed the issue of infectious diseases firmly in the public eye; Governments and international organisations are now investing heavily to ensure they are better prepared. 'Poolbeg Pharma is aiming to carve out a leading position in this rapidly evolving and expanding sector. We have an excellent heritage in infectious diseases and a management team with a track record of delivering value creation.' He added: 'Our capital light business model is an important differentiator. Through deep biological analysis of disease progression, we believe that it should enable us to reposition existing drug candidates and develop assets to Phase II stage quickly with relatively modest investment where they can then potentially be acquired / licensed to big pharmaceutical companies. 'We aim to be customer-led and will use our extensive network to become a 'one stop shop' for big pharma, developing the assets that they need.' Story provided by StockMarketWire.com

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