US-based biopharmaceutical innovator Hookipa Pharma is advancing non-binding discussions to acquire London-based Poolbeg Pharma in an all-share deal. This transformative proposal could reshape the clinical-stage biopharmaceutical landscape, creating a Nasdaq-listed powerhouse focused on next-generation immunotherapies for cancer and serious diseases.
Hookipa Pharma shareholders would hold 45% of the merged entity, with Poolbeg Pharma shareholders set to own a commanding 55% of the expanded company. Cathal Friel, Poolbeg’s co-founder, is expected to take on the role of executive chair, signalling a seamless integration of leadership expertise. To fund the transaction, Hookipa plans a $30 million raise, potentially adjusting post-fundraising ownership stakes across the combined entity, with new investors playing a significant role in the final structure.
A contingent value right (CVR) mechanism will provide Hookipa shareholders with additional benefits tied to future milestones, ensuring alignment with the company’s long-term vision. The combined organisation will retain its Nasdaq listing, with Poolbeg Pharma operating as a private subsidiary. Together, they will maintain a robust presence across the US, UK, and EU markets, maximising their global impact.
The partnership aims to leverage complementary pipelines, combining Hookipa’s HB-700, a multi-KRAS targeting immunotherapy for cancer, with Poolbeg’s POLB 001, a Phase 2-ready therapy addressing immunotherapy-induced Cytokine Release Syndrome. Both therapies hold promise in tackling unmet medical needs, with key clinical milestones anticipated over the next two years.
Hookipa Pharma also brings lucrative collaborations to the table, including partnerships with Gilead Sciences and Roche. These agreements hold significant financial potential, offering up to $407.5 million in milestone payments from Gilead for the HB-400 and HB-500 programmes, alongside royalties for shareholders. The HB-200 programme remains a major revenue driver, with Hookipa retaining 80% of its proceeds. Furthermore, its 2022 deal with Roche for the HB-700 asset underscores the company’s strong commercial prospects, with potential payments of up to $940 million.
This strategic acquisition aims to unite two innovative companies under a shared vision to develop and commercialise cutting-edge therapies. The combined group will boast a diversified pipeline, robust funding strategies, and the operational scale needed to address some of the most pressing challenges in medicine today.
Poolbeg Pharma plc (LON:POLB) is a clinical stage infectious disease pharmaceutical company, with a novel capital light clinical model which enables us to develop multiple products faster and more cost effectively than the traditional biotech model.
