Poolbeg Pharma eyes ‘value-creating milestones’ with cancer therapy data set to emerge

Poolbeg Pharma, the clinical-stage biopharmaceutical company cofounded by serial entrepreneur Cathal Friel, has said it anticipates a “series of potential value-creating milestones” ahead, as data from clinical trials of its preventative cancer therapy begins to emerge in 2026.

Shares in the Ireland-based, London-listed company rose by more than 3 per cent following the update.

The company bolstered its cash position in the first six months of the year, raising £4.86 million (€5.58 million) from investors in an “oversubscribed and upsized fundraise, it said in unaudited interim results published on Monday.

The fundraise extends Poolbeg’s “cash runway into 2027, said chief executive Jeremy Skillington, supporting the “delivery of multiple key clinical milestones”.

The company announced last week that it has signed an agreement for a specialist blood cancer trials organisation to conduct trials of its POLB 001 drug, an oral preventative therapy to treat inflammation in blood and tissues.

Earlier this year, the US Food and Drug Administration (FDA) granted orphan drug designation to the treatment. It gives Poolbeg a potential seven-year period of US market exclusivity following approval of the treatment, waiver exemption of some fees and tax credits for qualified clinical trials.

[ Poolbeg Pharma treatment gets FDA backingOpens in new window ]

“We are optimistic about the potential of POLB 001 to transform the delivery of cancer immunotherapies by moving administration away from specialist centralised cancer centres and into the community setting, closer to patients’ homes and, as a result, making these life-saving treatments available to more patients,” Mr Skillington said.

Poolbeg said it lost £2.2 million in the first six months of 2025, up from £2.1 million in the first half of 2024.

The company had a cash balance of £10 million at the end of June, supported by the fundraise.

Mr Skillington said the company had undertaken “a series of operational efficiency measures” over the period, to “align resourcing” with its “near-term clinical priorities”.

“I am excited about Poolbeg’s future; we’ve entered a catalyst-rich period, supported by a robust cash balance that provides runway through to 2027,” he said.