Poolbeg Pharma PLC - London-based clinical stage biopharmaceutical firm - Confirms that Gilead Sciences Inc, a significant shareholder in Hookipa Pharma Inc, intends to vote in line with the Hookipa board recommendation on the potential combination of Poolbeg and Hookipa, if a formal offer were to be made. Gilead currently owns a 19% stake in Hookipa, and also intends to participate in the proposed fundraise for up to $30 million upon completion of the deal. Oppenheimer & Co Inc has been engaged by Hookipa in connection with the fundraise.

If the combination is agreed, Poolbeg is expected to become a private subsidiary of Hookipa and apply for the cancellation of its shares to trading on AIM. Hookipa, which is based in New York and Austria, intends to retain its listing on the Nasdaq capital market. Current talks are ‘non-binding’ and ‘non-exclusive’, Poolbeg reiterates.

Current stock price: 4.50 pence, up 15% in London on Tuesday afternoon

12-month change: down 54%

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