Business
Interim results for the six months to 30 June 2023
Interim results for the six months to 30 June 2023.
About this update from Poolbeg Pharma Plc
[{"type":"text","content":"\n\nPoolbeg Pharma plc\n \nInterim results for the six months to 30 June 2023\nSignificant progress made and well positioned for future growth\n \n13 September 2023 - Poolbeg Pharma (AIM: POLB, OTCQB: POLBF, 'Poolbeg' or the 'Company'), a clinical-stage biopharmaceutical company targeting diseases with a high unmet medical need, announces its unaudited interim results for the six months to 30 June 2023.\n \nInterim Results Highlights and Business Update\n· Strong cash balance of £14.1 million as at 30 June 2023 (31 December 2022: £16.2m)\n· Positive results from the POLB 001 LPS human challenge trial. The asset has the potential to be an effective treatment for severe influenza and potentially other acute inflammatory conditions\n· Strategic expansion of POLB 001 into oncology, including as a potential treatment option for Cytokine Release Syndrome (CRS), a side-effect associated with up to 95% of CAR T cell therapies\n· Further to discussions with prospective partners interested in this area, the Company is actively exploring a potential new indication for POLB 001 in oncology beyond CAR T \n· The Company's artificial intelligence (AI) programme with CytoReason provided unparalleled insights into influenza infection and successfully identified a number of novel and valuable drug targets\n· The lab-based validation of the Respiratory Syncytial Virus (RSV) drug targets and treatments identified from the Company's AI-led programme is progressing and expected to complete in H2 2023\n· The Poolbeg-led Oral Vaccine consortium (EncOVac), which was awarded €2.3 million in grant funding, progressed to the next phase of development, marked by the commencement of the encapsulation validation process\n· Continued progress on the Oral GLP-1 agonist proof-of-technology clinical trial preparation. As a result of adopting recommendations from a number of Key Opinion Leaders (KOLs), the clinical trial design has been refined and the trial is expected to commence in H1 2024\n· Industry veteran, Professor Brendan Buckley, appointed as Non-Executive Director in May 2023\n \nJeremy Skillington, PhD, Chief Executive Officer of Poolbeg Pharma, co...