Poolbeg upbeat on research into potential drug market

(Sharecast News) - Biopharmaceutical company Poolbeg Pharma announced findings from independent research confirming a substantial market opportunity exceeding $10bn for its drug candidate POLB 001 on Monday, in preventing cancer immunotherapy-induced cytokine release syndrome (CRS) through oral delivery. The AIM-traded firm said the research suggested potential applications of POLB 001 in rare and orphan blood cancers, aligning with its commitment to addressing severe medical conditions.

In addition to the promising outlook for POLB 001, Poolbeg said it intended to advance its development alongside its existing portfolio, including programmes targeting influenza, AI-driven drug discovery, and oral delivery of GLP-1 for metabolic disorders.

With the field of cancer immunotherapies projected to reach $100bn to $140bn by 2030, the demand for effective CRS management was described as imminent.

CRS-related hospitalisation costs amount to an estimated $5.5bn, which Poolbeg said underscored the urgent need for preventative interventions.

Notably, Poolbeg's recent in vivo results for POLB 001 showed promising outcomes in ameliorating CRS symptoms, accompanied by dose-dependent reductions in proinflammatory cytokines.

The development of an oral preventative therapy held potential not only to alleviate healthcare system burdens, but also to enhance patient access to life-saving treatments, possibly extending beyond specialist centres.

"Rare and orphan disease medicines fit Poolbeg's efficient capital model particularly well," said chief executive officer Jeremy Skillington.

"Clinical development is typically more cost efficient and the market opportunity remains high because of the high unmet medical need.

"There is also a very active merger and acquisition market in this sector which Amryt took advantage of."

Skillington said the company saw the strategic approach as "highly complementary" to its existing programmes.

"The former Amryt team that have joined Poolbeg have an exceptional track record, have hit the ground running and are aligned with our vision of rapidly generating revenues and creating value for shareholders."

At 1412 GMT, shares in Poolbeg Pharma were down 0.74% at 9.28p.

Reporting by Josh White for Sharecast.com.