– UK, London – Poolbeg Pharma (LON: POLB / OTC: POLBF), a biopharmaceutical company focussed on the development and commercialization of innovative medicine, today announced that Co-Founder, shareholder, and current Non-Executive Chairman Cathal Friel is stepping into the role of Executive Chairman effective immediately.
About Cathal Friel
Cathal brings valuable experience from his longstanding track record of value creation in several public companies, including as Co-Founder of Amryt Pharma plc, which was acquired by Chiesi Farmaceutici S.p.A for US$1.48bn in 2023. He was also the Executive Chairman and Co-Founder of hVIVO plc which IPO’d in June 2019 at 5.6 pence with a market capitalization of c. £14 million. Open Orphan plc made a recommended all-equity offer for hVIVO plc in December 2019 for £12.96 million with the acquisition completed in January 2020. Since then, Cathal Friel and his team have transformed hVIVO into a fast-growing, profitable company with revenues of over £56 million, a share price of c. 28 pence, and a market capitalization of c. £200m.
Cathal Friel will continue to work closely with CEO Jeremy Skillington and the now-expanded leadership team, several of whom have recently joined Amryt Pharma. Cathal will focus on Poolbeg’s strategic initiatives, leveraging his strong track record of value creation, including the Company’s growing focus on rare and orphan diseases, whilst Jeremy will continue his successful leadership of the Company’s clinical programs and business development efforts alongside David Allmond.
Cathal Frie said: “As one of the Co-Founders of Poolbeg, and a great believer in the Company’s potential, I have been dedicating a large part of my time to supporting the Company on its dynamic growth path. Therefore, the Board felt it was appropriate that I should change my role to Executive Chairman to reflect my ongoing time commitment and the experience that I bring from my track record of value creation at both hVIVO plc and Amryt Pharma plc.
About Poolbeg Pharma
Poolbeg Pharma plc is committed to the development and commercialization of innovative medicines targeting diseases with a high unmet medical need. Its model focuses on developing its exciting clinical assets and commercializing approved and marketed drugs to fund the development of its robust pipeline of innovative products, thereby driving significant value creation.
Poolbeg is led by an experienced leadership team with a history of delivering significant shareholder value. The team has been strengthened by the appointment of three former members of the Amryt Pharma plc leadership team, to repeat Amryt’s success and generate near-term revenues.
Poolbeg’s clinical programs target large addressable markets including cancer immunotherapy-induced CRS, infectious disease, and metabolic conditions such as obesity with the development of an oral GLP-1R agonist. It uses a cost-effective development philosophy to generate high-quality human data to support partnering and further development. Its AI-led infectious disease programs analyze unique data from human challenge trials to identify clinically relevant drug targets and treatments, leading to faster development and greater commercial appeal.
SOURCE: https://www.poolbegpharma.com/
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