Poolbeg Pharma raises GBP25mln ahead of AIM float


Poolbeg Pharma PLC, a spin-out from Open Orphan PLC (LON:ORPH) is expected to float on AIM early next week after completing a GBP25mln fundraising.

The clinical-stage infectious diseases pharmaceutical company is being demerged from its parent company with aspirations to become a ‘one-stop shop’ for large pharma companies seeking mid-stage products to license or acquire.

Poolbeg, which boasts a capital-light and scalable business model where it aims to develop assets to be Phase II-ready quickly with modest investment, has issued its shares at 10p apiece and should have a market cap of GBP50mln when it arrives on London’s junior market on 19 July with a 51% free float.

Open Orphan confirmed today the GBP25mln funding had been successful.


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