Poolbeg Pharma, under the direction of visionary businessman Cathal Friel, is taking bold steps towards international expansion. In a potential merger with New York-listed Hookipa, the London-listed biopharmaceutical company could see its listing move to the prestigious Nasdaq stock exchange, positioning it at the forefront of innovative drug development.
In an announcement to the stock market, Poolbeg and Austria-based Hookipa revealed non-binding discussions for an all-share acquisition by Hookipa. If successful, the merger would form a clinical-stage biopharmaceutical powerhouse. The new entity would focus on pioneering treatments for critical unmet needs, with an emphasis on next-generation immunotherapies targeting cancer and other severe diseases.
Under the proposed terms, Poolbeg shareholders would hold an initial 55% stake in the combined entity, with Hookipa’s shareholders taking 45%. Following a planned $30 million equity raise through a private placement, these stakes would adjust to 40% and 32.8%, respectively. Such a merger would bring together Poolbeg’s expertise in commercialising innovative medicines and Hookipa’s advanced arenavirus platform, a technology co-developed by Nobel laureate Rolf Zinkernagel.
The combined business would boast a leadership team featuring Poolbeg co-founders Cathal Friel and Ian O’Connell alongside Hookipa’s CEO Malte Peters. Together, they aim to propel the merged company to new heights, leveraging their respective successes. Poolbeg’s growth strategy, which combines organic development with the acquisition of undervalued assets, has already demonstrated success under Friel’s stewardship, including previous ventures such as Amryt Pharma and hVivo.
While discussions remain preliminary and non-binding, the potential merger represents a significant opportunity for both firms. Poolbeg’s market capitalisation of £35.5 million and Hookipa’s $24.23 million valuation indicate a strong foundation for growth in the dynamic biopharmaceutical sector.
With its origins as a London AIM-listed company and ambitions to join the ranks of Nasdaq-listed innovators, Poolbeg continues to exemplify bold strategic vision under Cathal Friel’s leadership.
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.
