Cashed up and charging ahead : Poolbeg Pharma’s value runway is clear
“…and importantly a lot of benefits for cancer patients and patients with metabolic diseases lie ahead…”
With an additional £4.9 million to supplement existing cash reserves, Poolbeg Pharma has enough financial firepower to last it to 2027, and a clear pathway about how it wants to spend the funds.
The money raised for the clinical-stage biopharmaceutical company was achieved through an oversubscribed BookBuild offer plus a placing and subscription which saw chairman Cathal Friel make an additional £100,000 investment bringing his total shareholding in Poolbeg to 5.91%.
One month after the upsized equity raise Irish entrepreneur Sean O’Driscoll acquired a 5.74% stake through his Roaring Waters Capital investment vehicle matching the similar size stake owned by high end office space entrepreneur and Glandore founder Michael Kelly.
Three well known ‘characters’ of Irish descent and whether the trio are familiar with each other or not is not distracting Poolbeg chief executive Dr Jeremy Skillington from his laser focus on POLB 001 which could prevent or treat cancer immunotherapy-induced cyctokine release syndrome.
It’s been awarded Orphan Drug Designation by the US Food and Drug Administration and the Phase 2A study commences later this year. Concurrently Skillington is progressing the metabolic obesity encapsulated oral GLP-1 programme.
Interim readouts and then the top line data generation from both programmes are anticipated within 18 months and it’s that data which “drives the value of the company,” says Skillington who is looking forward to executing the two trials particularly as pharma companies are wanting sight of that data which will help them decide if Poolbeg is a potential partner. All are chasing the holy grail solution to cancer and its associated complications.
As Jeremy explains to Sarah Lowther in this video interview there’s going to be a lot of activity. “So a lot of value to be generated for our shareholders and importantly a lot of benefits for cancer patients and patients with metabolic diseases lie ahead.”
Access the company’s recent corporate presentation
Follow the company on X @PoolbegPharma
Poolbeg Pharma was suggested as one of 10 Companies to follow for 2025 by @TMSreach
The author was remunerated but does not hold shares in the company
