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AIM:POLB
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Poolbeg Pharma raises £25mln ahead of AIM float

The company's lead product is a Phase II-ready treatment for flu

Open Orphan PLC -
Chief executive Jeremy Skillington has worked in the sector since 2002

Poolbeg Pharma PLC, a spin-out from Open Orphan PLC (LON:ORPH) is expected to float on AIM early next week after completing a £25mln fundraising.

The clinical-stage infectious diseases pharmaceutical company is being demerged from its parent company with aspirations to become a ‘one-stop shop’ for large pharma companies seeking mid-stage products to license or acquire.

Poolbeg, which boasts a capital-light and scalable business model where it aims to develop assets to be Phase II-ready quickly with modest investment, has issued its shares at 10p apiece and should have a market cap of £50mln when it arrives on London’s junior market on 19 July with a 51% free float.

Open Orphan confirmed today the £25mln funding had been successful.

Quick facts: Poolbeg Pharma PLC

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AIM:POLB

Price: 10.75 GBX

Market Cap: £53.75 m

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Poolbeg Pharma Presenting at the Proactive One2One Virtual Forum - 16th...

Poolbeg Pharma is a clinical stage infectious disease pharmaceutical company, with a novel capital light clinical model which enables us to develop multiple products faster and more cost effectively than the traditional biotech model. Poolbeg aspires to become a “one-stop shop” for big pharma to...

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