Cathal Friel of Poolbeg Pharma discusses results of the proposal to purchase shares from distribution in specie shareholders
If you find this podcast useful please give it a rating and review on iTunes by clicking here
Cathal Friel Chairman of Poolbeg Pharma #POLB discusses the results of the proposal to purchase shares from distribution in specie shareholders, with 97% deciding to remain invested in the company following the end of the lock-up period.
Highlights
Poolbeg Pharma , a clinical stage infectious disease pharmaceutical company with a unique capital light clinical model, announces the results of the proposal from a number of New Investors to purchase shares from distribution in specie shareholders ahead of the end of the lock-up period.
As published via an RNS on 11 April 2022, the Company sourced a number of New Investors that offered to purchase up to £1.6m distribution in specie shares at a price of 5.9 pence being the closing price on 8 April 2022 (the last trading day prior to that announcement). The Company can now confirm that these proposals have been accepted by distribution in specie shareholders seeking to sell a total of £366k of Poolbeg shares, representing only 3% of the distribution in specie shares.
The vast majority, representing 97% of distribution in specie shareholders, have decided to remain invested in Poolbeg following the end of the lock-up period. Overall, the proposals have demonstrated strong shareholder confidence in the Company as it enters the exciting clinical phase of its development.
An FAQ can be found on the Company's website here.
About Poolbeg Pharma
Poolbeg Pharma is a clinical stage infectious disease pharmaceutical company, with a capital light clinical model which aims to develop multiple products faster and more cost effectively than the conventional biotech model. The Company, headquartered in London, is led by a team with a track record of creation and delivery of shareholder value and aspires to become a "one-stop shop" for Big Pharma seeking mid-stage products to license or acquire.
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.
With its initial assets from Open Orphan plc, an industry leading infectious disease and human challenge trials business, Poolbeg 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 has a small molecule immunomodulator for severe influenza (POLB 001); a first-in-class, intranasally administered RNA-based immunotherapy for respiratory virus infections (POLB 002); and a vaccine for Melioidosis (POLB 003). The Company is also developing an oral vaccine delivery platform and is progressing two artificial intelligence (AI) drug discovery programmes to accelerate the power of its human challenge model data and biobank.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.