Poolbeg Pharma CEO Jeremy Skillington joined Steve Darling from Proactive to announce the company’s unaudited interim results for the first half of 2024, highlighting strong progress with its lead development candidate, POLB 001. As of 30 June 2024, the company reported a cash balance of £10.1 million, showcasing its prudent financial management and ability to support ongoing development initiatives.
Skillington emphasized that POLB 001 is on track, with robust data demonstrating its efficacy in reducing cancer immunotherapy-induced cytokine release syndrome (CRS) in an in vivo animal model. This strengthens the company’s patent portfolio, with the U.S. Patent Office recently granting Poolbeg a new patent for its Immunomodulator II, covering a class of drugs, including POLB 001, aimed at treating or preventing hypercytokinemia (cytokine storm) across a range of diseases. This patent approval enhances Poolbeg’s ability to expand its intellectual property and attract potential partners.
Poolbeg Pharma is actively engaging with multiple potential partners to further develop and commercialize POLB 001. Additionally, the company signed an exclusive 12-month option agreement for tPTX, a novel topical muco-adherent treatment for oral ulcers in patients suffering from Behçet’s Disease. The treatment holds significant potential, with FDA Fast Track Designation, Orphan Drug Designation, and a possible 505(b)(2) approval pathway in the U.S., indicating its promising market prospects.
Skillington emphasized Poolbeg’s commitment to advancing its pipeline while maintaining strong financial discipline, positioning the company for future growth and partnerships in the biotech sector.
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