Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Poolbeg agrees 12-month option over potential Behcet's treatment
(Sharecast News) - Poolbeg Pharma announced an exclusive 12-month option agreement with Silk Road Therapeutics on Tuesday, to potentially acquire a novel topical muco-adherent formulation of Pentoxifylline (tPTX). The AIM-traded firm said the formulation targeted oral ulcers in patients grappling with Behçet's Disease, a condition marked by a high unmet medical need due to its lack of a cure.
Highlights of the agreement included the successful completion of a phase two trial, which demonstrated the superiority of tPTX over the current standard of care.
Moreover, the drug had garnered both orphan drug designation and fast-track designation from the FDA, setting the stage for a potential approval pathway in the US.
The board said the partnership with Silk Road Therapeutics would enable Poolbeg to further its due diligence efforts, including engagement with Silk Road to determine the clinical approval pathway.
That came amid clear demand for effective treatments for Behçet's Disease, which sees inflammation of blood vessels and tissues, leading to debilitating symptoms such as oral ulcers.
The current standard of care fell short, leaving a pressing need for alternative treatment options.
The topical formulation of PTX had shown promising results in accelerating oral ulcer healing and reducing pain in Behçet's Disease patients during clinical trials.
"The foundation of any pharma company is a strong pipeline of assets, and we believe that topical PTX could fit well into our pipeline alongside our other assets as we increase our focus on rare and orphan diseases," said chief executive officer Jeremy Skillington.
"We are delighted to enter this exclusive option agreement with Silk Road Therapeutics and Dr Timothy Coté, whose extensive experience, including as director of the FDA Office of Orphan Products Development, adds invaluable insights into the regulatory pathway and ultimate approval and commercialisation of the drug."
Skillington dded that tPTX had the potential to "transform the lives" of patients suffering from Behçet's Disease, who currently lacked effective and safe long term treatment options.
"Under this exclusive option agreement, we will advance our due diligence process and engage with Silk Road Therapeutics to further understand the clinical pathway to approval, and we look forward to updating the market in due course."
At 1623 BST, shares in Poolbeg Pharma were up 8.04% at 12.1p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.