Open Orphan PLC AIM Schedule 1 update by Poolbeg Pharma plc (1972F)
14 July 2021 - 05:04PM
UK Regulatory
TIDMORPH
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 GBP25 million by
way of placing of new shares at 10p per share, giving Poolbeg a
market valuation of GBP50 million at IPO.
Admission and first day of trading is expected to be 19 July
2021.
For further information please contact:
Open Orphan plc +353 (0) 1 644 0007
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser
and Joint Broker) +44 (0) 20 7614 5900
John Llewellyn-Lloyd / Richard Johnson
/ Oscair McGrath
finnCap plc (Joint Broker) +44 (0) 20 7220 0500
Geoff Nash / James Thompson/ Richard
Chambers
Davy (Euronext Growth Adviser and Joint
Broker) +353 (0) 1 679 6363
Anthony Farrell
Walbrook PR (Financial PR +44 (0)20 7933 8780 or openorphan@walbrookpr.com
& IR)
Paul McManus/ Sam Allen/ Louis Ashe-Jepson +44 (0)7980 541 893 / +44
(0) 7502 558 258 / +44 (0)
7747 515393
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(R) 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
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