In a strategic move to strengthen its management team, Poolbeg Pharma PLC (AIM:POLB, OTCQB:POLBF) has announced the appointment of key former executives from Amryt Pharma, underscoring its commitment to advancing its clinical assets.
Chairman Cathal Friel, who co-founded both Poolbeg and Amryt, will spearhead a similar strategic approach followed by Amryt, which successfully developed drugs for unmet medical needs and bought in commercial assets before being sold for just shy of US$1.5 billion.
This dual approach is anticipated to not only generate revenue but also to underpin the development of a robust pipeline of innovative products, investors were told.
Helping roll out the blueprint will be David Allmond, who is slated to join Poolbeg as the chief business officer from 1 December. His tenure at Amryt was marked by his pivotal role in establishing a global commercial infrastructure that saw the company's revenue swell from a modest US$1.5 million to a substantial US$250 million over six years.
John McEvoy is set to bring his legal expertise to Poolbeg as chief legal officer, effective from 1 January. McEvoy oversaw the acquisition of Aegerion Pharmaceuticals and Chiasma Pharmaceuticals, as well as the company's dual listing on Nasdaq and its eventual sale to Chiesi Farmaceutici.
Laura Maher, meanwhile, will assume the role of vice president of clinical operations. Her tenure at Amryt, starting in 2018, was distinguished by her leadership in clinical research programmes, notably for Filsuvez, the pioneering treatment for epidermolysis bullosa.
"We welcome these exceptional individuals to the Poolbeg team as we look to accelerate this strategy, which is focussed upon developing a number of very exciting clinical assets and the acquisition of approved and marketed drugs, which not only generate revenue but also fund the development of a robust pipeline of innovative products," said Friel.
"Their extensive experience and achievements at Amryt Pharma align with our vision of rapidly generating revenues and creating value for shareholders. We look forward to some very exciting months and years ahead for the entire Poolbeg team, its stakeholders and shareholders."