Poolbeg Pharma commences trading on OTCQB Market in the United States

LONDON, UK / ACCESSWIRE / March 30, 2022 / Poolbeg Pharma (AIM: POLB, 'Poolbeg' or the 'Company'), a clinical stage infectious disease pharmaceutical company with a unique capital light clinical model, announces that trading in the Company's Ordinary Shares of nominal value of £0.02 each ("Ordinary Shares") will commence today on the OTCQB Venture Market in the United States. The Company's OTCQB shares will have the ticker: POLBF.

There is no associated capital raise with this cross trading and Poolbeg's Ordinary Shares will continue to trade on the Alternative Investments Market (AIM) on the London Stock Exchange under ticker POLB. Cross trading on the OTCQB market allows the Company access to one of the world's largest investment markets to expand its reach into a broader pool of investors. Poolbeg shares will be available to US investors during US working hours and priced in US dollars and thus has the potential to enable greater liquidity in Poolbeg shares on AIM by easing cross-border trading for potential US investors. Further information about the OTCQB market can be found HERE. [has smart link: www.otcmarkets.com/learn/market-101]

As a Foreign Private Issuer, Poolbeg's onboarding to the OTC Markets is based on satisfaction of the requirements for OTCQB as applicable to international reporting companies including satisfaction of the criteria for the exemption under the US Exchange Act Rule 12g3-2(b) from SEC reporting. The Rule 12g3-2(b) exemption includes the disclosure obligation to ensure that certain information made public or distributed under home market regulations is made publicly available on the company's website or other electronic information delivery system in English. Thus, the Company will have no additional reporting obligations and incur minimal ongoing costs, compared to traditional major exchanges.

As a verified market, the OTCQB offers transparent trading for companies that have met a minimum bid price test, are current in their financial reporting and have undergone an annual verification and management certification process. The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world's largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies. Online brokers such as Ameritrade, Fidelity Investments, Tradestation, Charles Schwab and E-trade all offer OTCQB trades. US investors can find real-time quotes, market information and access current company news and developments for Poolbeg at www.otcmarkets.com.

Since the Company listed on AIM in July 2021, it has continued to make significant progress on its strategy to develop multiple innovative infectious disease products faster and more cost effectively than the conventional biotech model. Key strategic areas have included:

Poolbeg engaged Nikolaos Galanopoulos of the corporate securities law firm Galanopoulos & Company as its OTC Markets Sponsor for the OTCQB onboarding.

Cathal Friel, Chairman of Poolbeg Pharma said:

"We believe that having a US cross trading facility is important for the development of Poolbeg. It gives us the opportunity to widen our potential investor base, which we believe may help future liquidity, and capitalises on the interest in European stocks from US investor. In our view, OTCQB is a good complement to our AIM listing. The OTC markets have expanded in recent years beyond pink sheet listings, and now include a premium market (OTCQX) for companies such as Danone and Roche, and a venture market (OTCQB) for companies of Poolbeg's size."

Jeremy Skillington, CEO of Poolbeg Pharma added:

"Importantly, the OTCQB trading facility will provide access to one of the world's largest investments markets with no additional reporting obligations and minimal ongoing costs, compared to traditional major exchanges. This cross trading facility has the potential to enable greater liquidity in Poolbeg shares on AIM by easing cross-border trading for potential US investors.

We believe this listing will enable US institutional and retail investors to share in the growth of Poolbeg as we build the Company into a leading infectious disease pharmaceutical company. This action also fits with our long-term strategy and ambitions to be dual listed on a national securities exchange in the US, such as Nasdaq, subject to meeting their listing requirements; this is a step in the right direction."

Jonathan Dickson, VP of International Corporate Services at OTC Markets, said:

"We are delighted to welcome Poolbeg Pharma to the OTCQB Venture Market. With its primary listing remaining on London's AIM, the OTCQB's cross-trading facility will allow Poolbeg to broaden its horizons and provide investors in the U.S. with the ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours."

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About Poolbeg Pharma

Poolbeg Pharma is a clinical stage infectious disease pharmaceutical company, with a capital light clinical model which aims to develop multiple products faster and more cost effectively than the conventional biotech model. The Company, headquartered in London, is led by a team with a track record of creation and delivery of shareholder value and aspires to become a "one-stop shop" for Big Pharma seeking mid-stage products to license or acquire.

The Company is targeting the growing infectious disease market. In the wake of the COVID-19 pandemic, infectious disease has become one of the fastest growing pharma markets and is expected to exceed $250bn by 2025.

With its initial assets from Open Orphan plc, an industry leading infectious disease and human challenge trials business, Poolbeg has access to knowledge, experience, and clinical data from over 20 years of human challenge trials. The Company is using these insights to acquire new assets as well as reposition clinical stage products, reducing spend and risk. Amongst its portfolio of exciting assets, Poolbeg has a small molecule immunomodulator for severe influenza (POLB 001); a first-in-class, intranasally administered RNA-based immunotherapy for respiratory virus infections (POLB 002); and a vaccine for Melioidosis (POLB 003). The Company is also developing an oral vaccine delivery platform and is progressing two artificial intelligence (AI) drug discovery programmes to accelerate the power of its human challenge model data and biobank.

For more information, please go to www.poolbegpharma.com or follow us @PoolbegPharma

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SOURCE: Poolbeg Pharma PLC