TIDMPOLB
RNS Number : 8674S
Poolbeg Pharma PLC
09 November 2023
Poolbeg Pharma plc
Key Senior Members of Former Amryt Pharma Leadership Team join
Poolbeg Pharma
Poolbeg team boosted by highly experienced executives with track
record of success
9 November 2023 - Poolbeg Pharma (AIM: POLB, OTCQB: POLBF,
'Poolbeg' or the 'Company'), a clinical-stage biopharmaceutical
company targeting diseases with a high unmet medical need,
announces the appointment of key former executives of Amryt Pharma
plc ('Amryt') to its leadership team.
These experienced professionals will assume pivotal roles within
Poolbeg, further enhancing the Company's expertise and
capabilities. Poolbeg's Chairman, Cathal Friel, co-founded both
Poolbeg and Amryt Pharma plc. Poolbeg intends to follow a similar
strategic approach to Amryt which focusses upon developing a number
of exciting clinical assets and the acquisition of approved and
marketed drugs, which not only generate revenue but also fund the
development of a robust pipeline of innovative products.
David Allmond will join Poolbeg Pharma as Chief Business Officer
from 1 December 2023. David was previously Chief Business Officer
at Amryt and was instrumental in putting in place the global
commercial infrastructure at Amryt which supported its revenue
growth from c. $1.5 million when he joined in 2016, to approaching
US$250 million some six years later, when Amryt was sold to Chiesi
Farmaceutici S.P.A. David played a pivotal role in Amryt, acquiring
the Lojuxta distribution rights for Europe and the Middle East in
2016 and joined Amyrt thereafter. Lojuxta became Amryt's first
approved, revenue generating product. David also played a very
significant role in Amryt's acquisition of Aegerion in 2019 and
Chiasma Pharmaceuticals in 2021. Previously, he played a key role
leading the EMEA team at Aegerion Pharmaceuticals and was the
Corporate Vice President of Global Marketing at Celgene during a
period of very rapid growth for the company having previously
established Celgene's UK operating company and led their marketing
and market access team for EMEA.
John McEvoy will become SVP, Chief Legal Officer, at Poolbeg
from 1 January 2024. John was Global General Counsel at Amryt from
2017 and continued in his role at Amryt following its sale to
Chiesi Farmaceutici S.P.A. earlier this year. John played an
instrumental role in Amryt's rapid growth, leading the acquisition
of Aegerion Pharmaceuticals in 2019 and Chiasma Pharmaceuticals in
2021. He also led the company's dual-listing on Nasdaq in 2020 and
its subsequent sale to Chiesi. John is a qualified lawyer in the US
(New York), England & Wales, and Ireland.
Laura Maher will join the Company as Vice President of Clinical
Operations from 8 January 2024. Laura joined Amryt in 2018 and as
Associate Director of Clinical Operations she led the clinical
research programmes for multiple products in Amryt's pipeline
including Filsuvez(R), the world's first approved epidermolysis
bullosa treatment. Laura has an extensive background in Clinical
Operations having previous roles in Prothena Biosciences, Cancer
Trials Ireland, and the European Organisation for Research and
Treatment of Cancer.
Cathal Friel, Co-Founder and Chairman of Poolbeg Pharma, said,
"I believe that Poolbeg has the potential to deliver the same
success as Amryt, which I co-founded in 2015 and IPO'd on AIM in
2016 and which went on to dual list on Nasdaq in 2020 before its
sale in 2023 to Chiesi Farmaceutici S.P.A. for US$1.48 billion.
When we established Poolbeg Pharma we always had the ambition of
creating a substantial biopharmaceutical company and over the last
two and a half years we have made great progress in building an
innovative and attractive pipeline.
"We welcome these exceptional individuals to the Poolbeg team as
we look to accelerate this strategy, which is focussed upon
developing a number of very exciting clinical assets and the
acquisition of approved and marketed drugs, which not only generate
revenue but also fund the development of a robust pipeline of
innovative products. Their extensive experience and achievements at
Amryt Pharma align with our vision of rapidly generating revenues
and creating value for shareholders. We look forward to some very
exciting months and years ahead for the entire Poolbeg team, its
stakeholders and shareholders."
Investor presentation
Jeremy Skillington, Chief Executive Officer, Cathal Friel,
Chairman, will provide a live presentation, joined by David
Allmond, incoming Chief Business Officer, via the Investor Meet
Company platform on Friday 10 November 2023 at 12.30pm GMT.
The presentation is open to analysts and investors, those who
already follow Poolbeg on the Investor Meet Company platform will
automatically be invited.
Investors can sign up to Investor Meet for free and add Poolbeg
Pharma plc to their company dashboard via:
https://www.investormeetcompany.com/poolbeg-pharma-plc/register-investor
Enquiries
Poolbeg Pharma Plc
Jeremy Skillington, CEO
Ian O'Connell, CFO +44 (0) 207 183 1499
Cavendish Capital Markets Ltd (Nominated
Adviser & Joint Broker)
Geoff Nash, Charlie Beeson, Nigel
Birks, Harriet Ward (ECM) +44 (0) 207 220 0500
Singer Capital Markets (Joint Broker)
Phil Davies, Sam Butcher +44 (0) 207 496 3000
J&E Davy (Joint Broker)
Anthony Farrell, Niall Gilchrist +353 (0) 1 679 6363
Optimum Strategic Communications +44 (0) 208 078 4357
Nick Bastin, Hana Malik, Vici Rabbetts poolbeg@optimumcomms.com
About Poolbeg Pharma
Poolbeg Pharma specialises in the development of innovative
medicines to address the unmet need in infectious and other
prevalent diseases. Poolbeg Pharma has a disciplined portfolio
approach to mitigate risk, accelerate drug development, and enhance
investor returns. The Company simultaneously advances multiple
programmes in cost-effective clinical trials, rapidly generating
early human safety and efficacy data to enable early partnering /
out-licensing, with the funds generated reinvested in the pipeline.
Poolbeg Pharma also uses AI to interrogate human challenge trial
data sets to quickly identify new targets and drugs, leading to
faster development and greater commercial appeal.
The Company is targeting the growing infectious disease market.
In the wake of the COVID-19 pandemic, infectious disease has become
one of the fastest growing pharma markets and is expected to exceed
$250bn by 2025. Through opportunistic identification of assets
which complement Poolbeg Pharma's existing pipeline, the Company is
progressing programmes in oncology and metabolic syndromes; adding
disease areas with significant addressable markets.
With its initial assets from hVIVO plc , an industry leading
infectious disease and human challenge trials business, Poolbeg
Pharma has access to knowledge, experience, and clinical data from
over 20 years of human challenge trials. The Company is using these
insights to acquire new assets as well as reposition clinical stage
products, reducing spend and risk. Amongst its portfolio of
exciting assets, Poolbeg Pharma has a small molecule
immunomodulator for severe influenza and other acute inflammatory
conditions (POLB 001) which produces a highly significant reduction
in p38 MAP kinase driven cytokines in a clinical setting; a
first-in-class, intranasally administered RNA-based immunotherapy
for respiratory virus infections (POLB 002); and a vaccine
candidate for Melioidosis (POLB 003). The Company is progressing
two A rtificial I ntelligence (AI) P rogrammes to add promising new
assets to its pipeline as well as developing an Oral Vaccine
Programme and utilising its licensed Oral Delivery Platform to
target metabolic conditions.
For more information, please go to www.poolbegpharma.com or follow us on Twitter and LinkedIn @PoolbegPharma.
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November 09, 2023 02:00 ET (07:00 GMT)
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