BDB Pitmans advised Arden Partners plc and finnCap Ltd on the deal.
The placing completed on 19 July 2021 and raised £25 million on its first day of dealings.
Upon its admission to AIM, Poolbeg announced that its main drug asset, POLB 00, will be ready for Phase II clinical trials with modest investment where they can be either monetised or licenced to large pharmaceutical companies. The IPO admission will also assist with Poolbeg’s mission to become a holistic, “one-stop shop”, for large pharmaceutical companies to find Phase II-ready products for development and commercialisation.
Poolbeg, a spin out of London-listed Open Orphan, is a clinical stage infectious disease pharmaceutical company, with a nuanced capital light clinical model which enables them to develop multiple products faster and more cost-effectively than the traditional biotech model.
Nick McCarthy (Picture), corporate partner at BDB Pitmans, led the transaction and was assisted by solicitor Laura Crotch from the firm’s Southampton office.
Law Firms: BDB Pitmans LLP;