Poolbeg Pharma, a clinical-stage biopharmaceutical company, has received a four-week extension from the UK takeover panel to finalize a merger deal with Nasdaq-listed Hookipa Pharma. The all-share deal would see Poolbeg investors initially holding a 55% stake in the merged entity, with Hookipa shareholders owning the remaining 45%. The transaction, structured as a reverse takeover, aims to protect Hookipa's Nasdaq listing.
Poolbeg Pharma, the clinical-stage biopharmaceutical company led by serial entrepreneur Cathal Friel, has secured a four-week extension from the UK takeover panel to unveil a merger deal with Nasdaq -listed peer Hookipa Pharma.
The transaction is being engineered as a reverse takeover that would technically see Hookipa take over Poolbeg. This would protect the prized Nasdaq listing. Irish space race: domestic companies pushing the frontiers of AI, space stations and acoustic technology Analysts see tie-up accelerating a restructuring of the legacy Hookipa business. Shares in the UK company, where Irish life sciences industry veteran Julie O’Neill is chairperson, slumped by almost 76 per cent in 2023 as the company went through senior management changes and announced three rounds of large job cuts.The latest, announced at the end of November, pointed to the group reducing its workforce to below 20 – down from 180 at the start of 2024.
MERGER PHARMACEUTICALS TAKEOVER NASDAQ REVERSE TAKEOVER
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