Jeremy Skillington, chief executive at Poolbeg Pharma said he has confidence that the company can generate strong returns for shareholders. Photograph: Jason Clarke
Operating losses at the pharmaceutical business, which is targeting the infectious diseases market and specialises in developing immature products to trial, declined from £2.3 million at the start of the year to £1.8 million by the end of June. On the revenue side, Poolbeg generated income from upfront payments for clinical trial and collaboration agreements of £731,000 over the period.
Aimed at severe influenza, the drug is a small molecule immunomodulator, that “addresses an unmet need” in treatment of the illness, said Mr Skillington at the time. “This includes the initial results from our human challenge trial for our severe influenza treatment, POLB 001, after which we will seek to out-licence to pharma and biotech companies, generating revenues from upfront payment and downstream milestones and royalties.”