Dublin-listed pharmaceutical services company Open Orphan will seek admission of its spin-out company Poolbeg Pharma to trade on the London Stock Exchange’s AIM, using the funds raised to meet the costs of the clinical trials for its flu treatment.
Poolbeg Pharma, which will focus on infectious diseases, will have POLB 001 as its lead asset, a small molecule immunomodulator for severe influenza that is phase-II ready, according to the company.
This will be the third life science company founded by and coming out of the Cathal Friel and Raglan Capital stable, following Amryt and Open Orphan.
Open Orphan (LON:ORPH) was founded in 2017, with the goal of rapidly building Europe’s leading pharma services company by a management team with extensive industry and financial expertise. The company comprises of two commercial specialist CRO services businesses (Venn Life Sciences and hVIVO) and is also developing a genomics data platform business (Genomic Health Data).