Poolbeg Pharma PLC (AIM:POLB, OTCQB:POLBF) said it has exclusively licensed specialist microencapsulation or nanoencapsulation developed by a company called InsuCaps to orally deliver its glucagon-like peptide 1 receptor (GLP-1) drug.
"[We] saw the potential for microencapsulation and nanoencapsulation oral delivery technologies in vaccines, and this has been further validated by the grant from the Irish Government's Disruptive Technologies Innovation Fund," said Poolbeg chief executive Jeremy Skillington in a statement.
"Drawing on our growing understanding of this technology from our Oral Vaccine Platform, we believe that there is significant opportunity in other adjacent areas, such as metabolic diseases," he added.
Poolbeg's GLP-1 treatment, which is developed as an alternative to the current crop of diabetes and anti-obesity treatments that are delivered by injection, is expected to go into a phase I proof-of-concept trial in the first half of next year.
The study is designed to provide data confirming that the patented microencapsulation and nanoencapsulation technologies can safely deliver the drug by mouth. The results are expected in 2023 too.
In the same announcement, Poolbeg told investors that it has added Professor Brendan Buckley to its Scientific Advisory Board.