Poolbeg Pharma PLC (AIM: POLB, OTCQB: POLBF) has announced the resignation of Patrick Ashe, an independent director who played a pivotal role in guiding the company through its early stages of development.
Eddie Gibson will succeed Ashe as the chair of the audit and risk committee, while Prof Brendan Buckley is set to become the chair of the remuneration committee.
Cathal Friel, the Chairman, expressed gratitude towards Ashe for his valuable contributions since the company’s Initial Public Offering (IPO). Friel highlighted Ashe’s expertise in expanding biopharmaceutical companies as being particularly beneficial.
Ashe, who joined Poolbeg during its IPO, is leaving the board at a time when the company is experiencing significant growth, bolstered by a strong pipeline of promising programs. This period of growth coincides with the recent addition of three key former leaders from Amryt Pharma to the Poolbeg team, aiming to emulate their previous success.
Friel noted that Poolbeg is in a robust financial state, has achieved impressive clinical results, and is engaged in fruitful partnership discussions. He emphasized that the company is in a prime position to create substantial value for its shareholders.
About Poolbeg Pharma
Poolbeg Pharma plc is committed to the development and commercialisation of innovative medicines targeting diseases with a high unmet medical need. Its model focusses upon developing its exciting clinical assets and commercialising approved and marketed drugs to fund the development of its robust pipeline of innovative products, thereby driving significant value creation.
Poolbeg is led by an experienced leadership team with a history of delivering significant shareholder value. The team has been strengthened by the appointment of three former members of the Amryt Pharma plc leadership team, with the intention of repeating Amryt’s success and generating near term revenues.
Poolbeg’s clinical programmes target large addressable markets across cancer immunotherapies, severe influenza, and metabolic conditions such as obesity with the development of an oral GLP-1R agonist. It uses a cost-effective development philosophy to generate high quality human data to support partnering and further development. Its AI-led programmes analyse unique data from human challenge trials to identify clinically relevant drug targets and treatments, leading to faster development and greater commercial appeal.
