Poolbeg Pharma PLC Announces Results for the Year Ended 31 December 2023

Significant pipeline advancements

Strategic expansion into cancer immunotherapy-induced CRS unlocking a market opportunity exceeding US$10Bn

Key senior management hires

LONDON, UK / ACCESSWIRE / April 30, 2024 / Poolbeg Pharma (AIM:POLB)(OTCQB:POLBF); 'Poolbeg' or the 'Company'), a biopharmaceutical company focussed on the development and commercialisation of innovative medicines targeting diseases with a high unmet medical need, announces its audited results for the year ended 31 December 2023.

Financial & Corporate Highlights

• Cash balance of £12.2 million as at 31 December 2023
• Industry veteran, Professor Brendan Buckley, appointed as Non-Executive Director
• Recruitment of key management hires, former executives of Amryt Pharma plc, a rare disease company that was acquired by Chiesi Farmaceutica for US$1.48 billion

Operational Highlights

• Positive results from POLB 001 LPS human challenge trial revealed potent target inhibition and major reductions in key inflammatory markers
• Strategic expansion of POLB 001 as a preventative therapy for cancer immunotherapy-induced Cytokine Release Syndrome (CRS)
• POLB 001 patent portfolio strengthened with new patent filings and grants
• Positive conclusion to the Immunomodulator I patent opposition with the opposition withdrawn
• Multiple novel influenza drug targets identified as part of Artificial Intelligence (AI) led programme with the prioritised targets endorsed by Poolbeg's Scientific Advisory Board
• Positive outputs from the lab-based analysis and successful prioritisation of the Respiratory Syncytial Virus ('RSV') treatment candidates identified as part of AI-led programme
• Signed a strategic collaboration agreement with a Nasdaq listed biopharma company for the development of an optimised oral drug to treat a metabolic condition
• POLB 001 data presented at 65th American Society of Hematology (ASH) Annual Meeting and Exposition and the 18th International Congress of Immunology (IUIS), and garnered interest from global industry leaders in the field of bispecific antibodies and CAR T cell therapies
• The Company engaged with a number of Key Opinion Leaders (KOLs) to refine the clinical trial design for its oral GLP-1R programme and is working towards commencement of its proof-of-technology clinical trial in 2024

Post Period End