AIM Schedule 1 update by Poolbeg Pharma plc

RNS Number : 1972F

Open Orphan PLC

14 July 2021

 

Open Orphan plc

("Open Orphan" or the "Company")

AIM Schedule 1 update by Poolbeg Pharma plc

Open Orphan plc  (AIM: ORPH), a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and world leader in vaccine and antiviral testing using human challenge clinical trials , notes the AIM Schedule One released in relation to Poolbeg Pharma plc ("Poolbeg") this morning, 14 July 2021 at 8.00 a.m. updating on Poolbeg's admission to AIM and fundraising ("IPO").

Poolbeg, a clinical-stage infectious diseases focused pharmaceutical company, was formed following a strategic decision by Open Orphan to demerge certain development assets from its core services led business, and has successfully raised £25 million by way of placing of new shares at 10p per share, giving Poolbeg a market valuation of £50 million at IPO.

Admission and first day of trading is expected to be 19 July 2021.

For further information please contact:

Open Orphan plc				[phone]
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser and Joint Broker)				[phone]
John Llewellyn-Lloyd / Richard Johnson / Oscair McGrath
finnCap plc (Joint Broker)				[phone]
Geoff Nash / James Thompson/ Richard Chambers
Davy (Euronext Growth Adviser and Joint Broker)				[phone]
Anthony Farrell
Walbrook PR (Financial PR & IR)	[phone] or [e-mail]
Paul McManus/ Sam Allen/ Louis Ashe-Jepson			[phone] / [phone] / [phone]

Notes to Editors

Open Orphan plc

Open Orphan plc (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The company provides services to Big Pharma, biotech and government/public health organisations.

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic, opened in February 2021, and its 24-bedroom QMB clinic which also has a highly specialised virology and immunology laboratory on-site. Open Orphan has a leading portfolio of eight human challenge study models for conditions such as RSV, flu, asthma and COPD. In addition, Open Orphan is also developing the world's first COVID-19 human challenge study model as part of the Human Challenge Programme and has signed a reservation contract with the UK Government for the first three COVID-19 vaccine challenge studies.

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company's Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies. Following COVID-19 there is now a renewed interest and investment in infectious diseases.

Open Orphan's Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company's Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial contracts.

About Poolbeg Pharma

Poolbeg Pharma is a clinical stage infectious disease pharmaceutical company, with a capital light clinical model which the Directors believe enables it to develop multiple products faster and more cost effectively than the traditional biotech model. Poolbeg has aspirations to become a "one-stop shop" for Big Pharma seeking mid-stage products to license or acquire.

Poolbeg is targeting the growing infectious disease market. In the wake of the COVID-19 pandemic, infectious disease has become one of the fastest growing and exciting markets with expected market value of $250bn by 2025. Poolbeg is led by a team who have a track record of creating shareholder value, creating c. $1bn in shareholder value between them.

With its initial assets from Open Orphan plc and headquartered in London, Poolbeg is led by a team with proven capabilities in identifying, acquiring and accelerating assets through development to commercialisation. With access to knowledge, experience and clinical data from over 20 years of Influenza, RSV, HRV and SARS-CoV-2 human challenge trials, Poolbeg is using these insights to acquire new assets as well as reposition clinical stage products, reducing spend and risk. It already has a Phase II ready repositioned small molecule immunomodulator for severe influenza and a portfolio of other exciting assets. The Company plans to broaden this portfolio further in the next 12 months and is in active discussions with AI data analysis platforms to help accelerate the power of its human challenge model data and biobank.

For more information, please go to www.poolbegpharma.com

 

END

 

 

MSCGPUQCMUPGUQC