Poolbeg Pharma (POLB) has highlighted the progress of its ongoing US patent assessment work after the official reviewing its application to protect its main asset, POLB 001, has indicated that the majority of the claims, including the main claim, would be “allowable”.
The infectious disease pharmaceutical firm, a spin-out of London-listed Open Orphan, said the main claim relates to the use of p38 MAP kinase inhibitors as a class of compounds.
This includes POLB 001, for the treatment of severe influenza through modulation of the immune response. Poolbeg said it anticipates receiving a formal patent grant in due course.
CEO, Jeremy Skillington, PhD, commented: "Our US patent assessment is going to plan and we look forward to updating our shareholders when we receive confirmation of its grant.”
The infectious disease market is expected to exceed $250 billion by 2025 and the current market for influenza is already around $800 million. As a result of this fast-growing market, Skillington said the protection of Poolbeg’s intellectual property is “very important.”
As stated in the Company’s AIM Admission Document upon its recent listing, Poolbeg’s intention is to “continue to aggressively file patent applications to protect Poolbeg's assets."
Poolbeg said the European patent was granted prior to the Company’s IPO in July 2021.
The patent, which offers protection until 2037, claims to the treatment of severe influenza, ‘which is characterised by symptoms that persist or recur for more than two days without signs of resolution, with a p38 MAP kinase inhibitor inhibiting the release of pro-inflammatory mediators from endothelial cells and pro-inflammatory cytokines from immune cells.’
Poolbeg has a worldwide license for POLB 001 and continues to develop its IP portfolio with patent protections in place covering the use of the class of p38 MAP kinase inhibitors for the treatment or prevention of severe influenza and hypercytokinaemia (or "cytokine storm").
It also continues to also evaluate POLB 001's therapeutic uses beyond severe influenza.
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On its first day of dealings in July, Poolbeg Pharma, a spin out of London-listed Open Orphan, announced that it has raised £25 million as part of its floatation on London’s AIM market.
In recent weeks, the Company has informed investors that it has earmarked some of the £25m proceeds to fund clinical trials for its advanced pipeline therapy for severe influenza.
Open Orphan explained to investors in July 2021 that Poolbeg’s IPO comes at a time when, post-pandemic, there has been an explosion in the growth of the infectious disease pharmaceuticals market, which is estimated to grow to in excess of $250 billion by 2025.
Upon its admission to AIM, Poolbeg stated that its main drug asset, POLB 00, will be ready for Phase II clinical trials ‘with modest investment where they can be monetised / licenced to big pharmaceutical companies.’ The London-based firm told investors that it aspires to become a “one-stop shop” for Big Pharma seeking mid-stage products to licence or acquire.
The Group’s portfolio also includes PredictViral™ Biomarker platform for early prediction of severe disease and the Vaccine Discovery Platform which uses human challenge model data.
Open Orphan’s Board has said it believes that the assets in Poolbeg would be ‘best developed separately from the core services business’ to maximise shareholder value.
In recent weeks, Jeremy Skillington, who was recently appointed as Chief Executive of Poolbeg, said in an interview that the firm plans to develop a “a conveyor belt of therapies”, and that the proceeds from the IPO could bring up to six assets to the saleable stage.
In a recent Q&A with Vox Markets, Chairman, Cathal Friel, and CEO of Poolbeg, Jeremy Skillington discuss the Company's ready made assets focusing on unmet clinical needs including their lead asset in severe influenza and the large data set ready for analysis.
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