Poolbeg Pharma PLC - London-based pharmaceutical company - On Wednesday reported it a signed an in-license agreement for the development of a Melioidosis vaccine candidate with University College Dublin. Melioidosis is an infectious disease spread by a bacterium in contaminated soil or water. It has a minimum fatality rate of around 10% and no vaccine for the disease exists. Poolbeg's late preclinical stage vaccine candidate has the name POLB 003. It is being developed following several years of research.
"Melioidosis presents a growing threat to global health as an infectious disease with no approved vaccine and a high mortality rate. POLB 003 is being developed in line with our capital light approach and represents a significant opportunity for Poolbeg. Combined with the company's expertise in infectious diseases it provides the perfect combination to contribute to the global response to this unmet-medical need and potential to generate significant returns for our investors," states Jeremy Skillington, Chief Executive Officer of Poolbeg.
Current stock price: 4.61 pence
12-month change: down 56%
By Tom Budszus; tombudszus@alliancenews.com
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Poolbeg Pharma (POLB)