Poolbeg Pharma plc (LON:POLB, OTCQB: POLBF), a clinical stage infectious disease pharmaceutical company with a unique capital light clinical model, states that it has been notified that Chief Executive Officer, Jeremy Skillington, has purchased 718,733 ordinary shares of 0.02 pence each in the Company at a share price of 4.78 pence per share.
Following the purchase, Jeremy Skillington’s beneficial interest in the Company is 718,733 Ordinary Shares, representing 0.14 per cent. of the total issued share capital.
Jeremy Skillington, PhD, CEO of Poolbeg Pharma, said:
“Following the significant levels of activity and excellent progress that has been made across our growing asset portfolio over recent months, I am pleased to now finally have the opportunity to purchase shares in the Company. Poolbeg is entering a very exciting phase in its development with a number of near-term value inflection points and I am confident in our potential to create future value for the Company and our shareholders through advancing and partnering our pipeline of infectious disease treatments.”
Poolbeg Pharma is a clinical stage infectious disease pharmaceutical company, with a unique capital light clinical model which aims to develop multiple products faster and more cost effectively than the conventional biotech model. The Company, headquartered in London, is led by a team with a track record of creation and delivery of shareholder value and aspires to become a “one-stop shop” for pharma and biotech seeking mid-stage products to license or acquire.
The Company is targeting the growing infectious disease market. In the wake of the COVID-19 pandemic, infectious disease has become one of the fastest growing pharma markets and is expected to exceed $250bn by 2025.
With its initial assets from Open Orphan plc, an industry leading infectious disease and human challenge trials business, Poolbeg has access to knowledge, experience, and clinical data from over 20 years of human challenge trials. The Company is using these insights to acquire new assets as well as reposition clinical stage products, reducing spend and risk. Amongst its portfolio of exciting assets, Poolbeg has a small molecule immunomodulator for severe influenza (POLB 001) which has commenced its LPS human challenge trial with initial results expected by year end 2022; a first-in-class, intranasally administered RNA-based immunotherapy for respiratory virus infections (POLB 002); and a vaccine candidate for Melioidosis (POLB 003). The Company is also developing an oral vaccine delivery platform and is progressing two artificial intelligence (AI) programmes to accelerate the power of its human challenge model data and biobank, with results from the first programme expected by year end 2022.
