Significant progress made and well positioned for future growth
LONDON, UK / ACCESSWIRE / September 13, 2023 / Poolbeg Pharma (AIM:POLB)(OTCQB:POLBF), ‘Poolbeg’ or the ‘Company’), a clinical-stage biopharmaceutical company targeting diseases with a high unmet medical need,announces its unaudited interim results for the six months to 30 June 2023.
Interim Results Highlights and Business Update
Jeremy Skillington, PhD, Chief Executive Officer of Poolbeg Pharma, commented: “During H1 2023, we made significant progress in advancing our pipeline, bolstered by the strong clinical trial data for POLB 001 and breakthroughs in our AI-led drug discovery programmes, we are building towards becoming an efficient one-stop-shop for biopharma seeking products to in-license. With a cost-effective R&D approach, complemented by a strong balance sheet and multiple non-dilutive funding opportunities, we are well positioned for ongoing development and future growth with a strong focus on our business development activities.”
Investor presentation
Jeremy Skillington, PhD, Chief Executive Officer, will be presenting at the Master Investor Sector Focus: Healthcare Webinar on 20 September 2023.
Register to attend here.
Change of Name of Nominated Adviser and Joint Broker
The Company also announces that its Nominated Adviser and Joint Broker has changed its name to Cavendish Capital Markets Ltd following completion of its own corporate merger.
– Ends –
Enquiries
Poolbeg Pharma Plc Jeremy Skillington, CEO Ian O’Connell, CFO |
+44 (0) 207 183 1499 |
Cavendish Capital Markets Ltd (Nominated Adviser & Joint Broker) Geoff Nash, Charlie Beeson, Nigel Birks, Harriet Ward (ECM) |
+44 (0) 207 220 0500 |
Singer Capital Markets (Joint Broker) Phil Davies, Sam Butcher |
+44 (0) 207 496 3000 |
J&E Davy (Joint Broker) Anthony Farrell, Niall Gilchrist |
+353 (0) 1 679 6363 |
Optimum Strategic Communications Nick Bastin, Hana Malik, Vici Rabbetts |
+44 (0) 208 078 4357 |
About Poolbeg Pharma
Poolbeg Pharma specialises in the development of innovative medicines to address the unmet need in infectious and other prevalent diseases. Poolbeg Pharma has a disciplined portfolio approach to mitigate risk, accelerate drug development, and enhance investor returns. The Company simultaneously advances multiple programmes in cost-effective clinical trials, rapidly generating early human safety and efficacy data to enable early partnering / out-licensing, with the funds generated reinvested in the pipeline. Poolbeg Pharma also uses AI to interrogate human challenge trial data sets to quickly identify new targets and drugs, leading to faster development and greater commercial appeal.
The Company is targeting the growing infectious disease market. In the wake of the COVID-19 pandemic, infectious disease has become one of the fastest growing pharma markets and is expected to exceed $250bn by 2025. Through opportunistic identification of assets which complement Poolbeg Pharma’s existing pipeline, the Company is progressing programmes in oncology and metabolic syndromes; adding disease areas with significant addressable markets.
With its initial assets from hVIVO plc, an industry leading infectious disease and human challenge trials business, Poolbeg Pharma has access to knowledge, experience, and clinical data from over 20 years of human challenge trials. The Company is using these insights to acquire new assets as well as reposition clinical stage products, reducing spend and risk. Amongst its portfolio of exciting assets, Poolbeg Pharma has a small molecule immunomodulator for severe influenza and other acute inflammatory conditions (POLB 001) which produces a highly significant reduction in p38 MAP kinase driven cytokines in a clinical setting; a first-in-class, intranasally administered RNA-based immunotherapy for respiratory virus infections (POLB 002); and a vaccine candidate for Melioidosis (POLB 003). The Company is progressing two Artificial Intelligence (AI) Programmes to add promising new assets to its pipeline as well as developing an Oral Vaccine Programme and an Oral Delivery Programme focussing on metabolic syndrome related diseases.
For more information, please go to www.poolbegpharma.com or follow us on Twitter and LinkedIn @PoolbegPharma.
Please refer to the attached PDF document to view the full announcement:
http://www.rns-pdf.londonstockexchange.com/rns/2283M_1-2023-9-12.pdf
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Poolbeg Pharma PLC
View source version on accesswire.com:
https://www.accesswire.com/783548/poolbeg-pharma-plc-announces-interim-results-for-the-six-months-to-30-june-2023
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