Poolbeg Pharma Secures £3.5m to Advance Cancer and Obesity Programmes (POLB)
Fiona Craig
Tue, 14 July 2026 at 12:45 pm GMT+5:30
2 min read
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Poolbeg Pharma (LSE:POLB) has raised £3.5 million through a placing of 58.3 million new ordinary shares at 6 pence each, representing a 16% discount to the previous closing price. Executive Chair Cathal Friel participated in the fundraising with a £250,000 investment
Subject to the admission of the new shares to AIM, which is expected on 21 July 2026, the financing is projected to extend the company’s cash runway into the second quarter of 2028 while also supporting ongoing partnership discussions
The proceeds will primarily be used to complete the POLB 001 TOPICAL clinical trial in multiple myeloma patients and to progress a proof-of-concept study of the company’s oral GLP-1 obesity treatment. These programmes strengthen Poolbeg’s presence in the rapidly growing oncology and metabolic disease markets
The TOPICAL study is supported by the supply of teclistamab from Johnson & Johnson at no cost and forms part of the wider RISE CRS research programme. The collaboration highlights increasing industry interest in POLB 001, which is being developed to reduce cytokine release syndrome associated with cancer immunotherapy and help improve access to these treatments
Despite the successful fundraising, Poolbeg’s outlook continues to reflect the challenges typical of a clinical-stage biotechnology company. The business remains pre-revenue, with ongoing losses, cash burn and shareholder dilution weighing on financial performance. However, progress towards key clinical milestones, regulatory readiness and the prospect of interim trial data provide potential catalysts for investors. Although the shares have shown strong upward momentum, technical indicators suggest the stock is currently overbought, which could increase short-term volatility.
About Poolbeg Pharma Ltd
Poolbeg Pharma is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer immunotherapy complications and metabolic diseases. Its lead candidate, POLB 001, is an oral p38 MAP kinase inhibitor designed to treat cytokine release syndrome associated with cancer immunotherapy, while the company is also advancing an oral GLP-1 receptor agonist for obesity and related metabolic disorders
