London-listed Poolbeg Pharma has received regulatory approval in the UK to proceed with human clinical trials of its influenza drug POLB 001.
The company, which spun out from Dublin-listed pharmaceutical services business Open Orphan last year, said the approval marked a significant milestone and that it had delivered on its promise to bring the drug, its lead asset, to trial by the summer of 2022.
Aimed at severe influenza, the drug is a small molecule immunomodulator, that “addresses an unmet need” in treatment of the illness, said Jeremy Skillington, chief executive of Poolbeg, in a statement.
“The unique mode of action of POLB 001 ... means that it is agnostic to the strain of virus and has the potential to expand to other disease indications and as such, could provide further opportunities to create significant value beyond severe influenza for the company and our shareholders,” he said.
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Trials are set to begin on July 22nd, the company said, with initial results expected in the fourth quarter of the year.
