Hookipa Pharma rules out making offer for Poolbeg Pharma

(Alliance News) - Hookipa Pharma Inc on Thursday said it is not going ahead with a bid for Poolbeg Pharma PLC.

In a brief statement regarding a possible combination between the two firms, the US-listed biopharmaceutical company said "it does not intend to make an offer for Poolbeg."

"Non-binding" and "non-exclusive" talks between the two firms were announced in early January.

Under the proposed terms announced in January, shareholders in Poolbeg, the London-based clinical stage biopharmaceutical firm, would have received 0.03 Hookipa shares for each Poolbeg share.

Shares in Poolbeg closed down 2.9% at 4.71 pence each in London on Thursday.

By Jeremy Cutler, Alliance News reporter

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