Poolbeg, a spin out of London-listed Open Orphan, is a clinical stage infectious disease pharmaceutical company, with a nuanced capital light clinical model which enables them to develop multiple products faster and more cost-effectively than the traditional biotech model.
Upon its admission to AIM, Poolbeg announced that its main drug asset, POLB 00, will be ready for Phase II clinical trials with modest investment where they can be either monetised or licenced to large pharmaceutical companies. The IPO admission will also assist with Poolbeg’s mission to become a holistic, “one-stop shop”, for large pharmaceutical companies to find Phase II-ready products for development and commercialisation.
BDB Pitmans has considerable expertise assisting with the raising of funds for pharmaceutical companies. Notable examples include assisting Trellus Health plc on admission to trading on the AIM market alongside successful fundraising in gross proceeds of £28.5 million, as well as advising Verici DX on its admission, which raised £14.5 million through the placing.
Nick McCarthy, corporate partner at BDB Pitmans, led the transaction and was assisted by solicitor Laura Crotch from the firm’s Southampton office.
Commenting on the placing, BDB Pitmans’ Nick McCarthy says: “The pandemic has brought about an even greater need for effective and accessible medical treatments across the world. This market, focused on infectious diseases, particularly Influenza and other viral diseases, is expected to exceed $250 billion by 2025.
"The BDB Pitmans team is pleased to continue to assist with the raising of crucial funds for pharmaceutical companies, supporting their development of critical medical products, particularly where it involves collaborating with longstanding clients such as finnCap Ltd.”