Investors to buy €1.9m shares in Poolbeg Pharma

Infectious disease company Poolbeg Pharma has said a number of new investors have expressed interest in acquiring up to £1.6 million (€1.9m) of its shares which are currently locked up and held in trust by Croft Nominees.

The investors have committed to purchase them on or around April 26th at a price of 5.9 pence per share, the closing market price on Friday.

There is “strong demand” among them in acquiring shares in the company, with the largest individual investor understood to be an experienced life science investor.

Cathal Friel, chairman at Poolbeg Pharma, said: "We are delighted to see this significant interest from new investors.

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“Coming mainly from high-net-worth family offices, our new investors have shown great interest in the Poolbeg story, our significant progress since IPO, and our capabilities in developing novel infectious disease products utilising our unique cost-effective model.

“The company is well capitalised with £20.9 million at year-end 2021, and given its capital light business model is therefore well funded with a long cash runway.”