Significant strategic and operational progress
6 September 2022 – Poolbeg Pharma (AIM: POLB, OTCQB: POLBF, ‘Poolbeg’ or the ‘Company’), a clinical stage infectious disease pharmaceutical company with a unique capital light clinical model, announces its unaudited interim results for the six months to 30 June 2022.
We made significant strategic & operational progress during H1 2022 & remains well capitalised with strong cash balances of £18.9m at 30 June 2022#POLB is entering a very exciting phase with a number of near-term value inflection points expected in 2022https://t.co/kiZ572arAI pic.twitter.com/wyt2GUrfzc
— Poolbeg Pharma (@PoolbegPharma) September 6, 2022
Financial & Operational Highlights
• Well capitalised with a strong cash balance of £18.9m as at 30 June 2022
• Significant progress made on developing POLB 001, a treatment for severe influenza
- LPS human challenge trial commenced in July 2022 with initial results expected by year end 2022
- Supply Agreement signed and GMP manufacturing completed
- Key US patent granted in May 2022
- Continuing to explore further disease indications beyond severe influenza
• Two AI programmes commenced to analyse Poolbeg’s unique human challenge trial data
- Agreement signed with OneThree Biotech Inc. in February 2022 to identify new drug targets and treatments for Respiratory Syncytial Virus (RSV). The programme is progressing well with the model build and optimisation completed in June 2022, with results expected by the end of 2022
- In March 2022 an agreement was signed with CytoReason Ltd. to identify novel drug targets for influenza. Data analysis is ongoing, and results are expected in Q2 2023
• Licensed first-in-class broad spectrum RNA-based immunotherapy (POLB 002) for respiratory virus infections from the University of Warwick in January 2022
- Key European and US patents granted in April and May 2022 respectively
• Diligence completed on POLB 003, an intramuscular vaccine candidate to prevent Melioidosis from University College Dublin. Definitive license agreement being finalised following exclusive option agreement (signed in December 2021)
• Licensed AnaBio Technologies’ micro- and nanoencapsulation technology to develop oral vaccines in January 2022
Jeremy Skillington, PhD, Chief Executive Officer, will provide a live presentation via the Investor Meet Company platform on 6 September 2022 at 6:00 pm.
The presentation is open to all existing and potential shareholders. Investors can sign up to Investor Meet Company for free and add to meet Poolbeg Pharma plc here . The presentation and recording will be available on the Company’s website after the event here .
Jeremy Skillington, PhD, CEO of Poolbeg Pharma said: “I am pleased with the progress that the team has made to advance and expand our portfolio of products and platforms, and we intend to build on and accelerate this rate of progress in the remainder of 2022 and beyond.
“Poolbeg is entering a very exciting phase in its development with a number of near-term value inflection points expected before year end. This includes the initial results from our LPS human challenge trial for our severe influenza treatment, POLB 001, after which we will seek to out-licence to pharma and biotech companies, generating revenues from upfront payment and downstream milestones and royalties. In addition, the outputs from our RSV and influenza Artificial Intelligence Programmes are expected by the end of 2022 and in Q2 2023 respectively.
“We have strong financial resources available to progress our products and platforms and also to capitalise on new opportunities as we identify them which, in addition to our upcoming value inflection points, gives me confidence that we can generate strong returns for shareholders.”
– Ends –
Poolbeg Pharma Plc
Jeremy Skillington, CEO
Ian O’Connell, CFO
+44 (0) 20 7183 1499
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