Poolbeg Pharma ups retail raise amid ‘strong investor interest’
Published: 14:15 22 May 2025 BST
Poolbeg Pharma PLC (AIM:POLB) has expanded its BookBuild Offer, part of a larger funding round, citing strong investor interest.
The company, in a statement, said it is now offering 6 million shares in the process, to potentially raise £150,000 of gross proceeds.
Earlier this week Poolbeg announced its plan to raise a total of £4.1 million through share placings and subscriptions – and, at that time, it expected £100,000 would come from the process via the Bookbuild retail-investor platform.
The placing, meanwhile, was anticipated to raise £2.655 million and £1.345 million was expected to come via direct share subscriptions.
Proceeds are earmarked to help Poolbeg reach key milestones, including dosing the first patient in a phase IIa trial of POLB 001 in the second half of this year.
POLB 001 is a tablet-based treatment intended to prevent cytokine release syndrome, a potentially life-threatening immune reaction, in patients receiving certain cancer immunotherapies.
The candidate “represents a significant market opportunity expected to exceed US$10 billion”, Poolbeg said, citing independent research commissioned by the company.
Overall, it is expected to support key clinical milestones and extend Poolbeg’s financial runway into 2027.
The Phase 2a trial for POLB 001 is expected to dose its first patient in the second half of 2025. Interim analysis is planned for the first half of 2026, followed by topline data later that year.
Poolbeg, meanwhile, expects to start a proof-of-concept trial for its oral GLP-1 programme shortly, with topline results anticipated in the first half of 2026.
