Poolbeg Pharma PLC's (AIM:POLB) planned merger with HOOKIPA Pharma is off after the US group unexpectedly pulled out of discussions, bringing the deal to an abrupt end.
Chairman Cathal Friel said the Poolbeg team was “surprised and disappointed” by the decision. Despite the setback, he emphasised that interest in Poolbeg’s lead asset, POLB 001, remains strong.
The company will now focus on maximising the potential of its in-house programmes and exploring other opportunities to drive shareholder value.