Placing to raise £3.5 million

Poolbeg Pharma PLC

14 July 2026

THIS ANNOUNCEMENT AND THE INFORMATION HEREIN (THE "ANNOUNCEMENT") IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, TRANSMISSION, DISTRIBUTION OR FORWARDING DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, TRANSMISSION, RELEASE, DISTRIBUTION OR FORWARDING WOULD BE UNLAWFUL. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. 

FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN POOLBEG PHARMA PLC (THE "COMPANY") IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

THE SECURITIES DISCUSSED HEREIN ARE NOT AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES, UNLESS REGISTERED UNDER THE SECURITIES ACT, OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, REGISTRATION UNDER THE SECURITIES ACT. NO PUBLIC OFFERING OF THE SECURITIES DISCUSSED HEREIN IS BEING MADE IN THE UNITED STATES AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFERING OF SECURITIES FOR SALE IN THE UNITED STATES AND THE COMPANY DOES NOT CURRENTLY INTEND TO REGISTER ANY SECURITIES UNDER THE SECURITIES ACT.

CERTAIN OF THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU 596/2014) AS THE SAME CURRENTLY FORMS PART OF ENGLISH LAW. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

14 July 2026

Poolbeg Pharma Plc

("Poolbeg" or the "Company")

Placing to raise £3.5 million

Executive Chair Cathal Friel subscribes for £250,000

Poolbeg Pharma Plc (AIM: POLB), a clinical-stage biopharmaceutical company with a core focus on transforming the cancer immunotherapy field, is pleased to announce that it has raised £3.5 million (before expenses) pursuant to a placing of 58,333,328 new ordinary shares of 0.02 pence each in the capital of the Company ("Placing Shares") with certain existing institutional and other investors ("Placing"). The Placing will be at the issue price of 6 pence per new Ordinary Share ("Issue Price").

The Placing is conditional, amongst other things, on the admission of the Placing Shares to trading on the AIM market of the London Stock Exchange plc ("AIM"), expected to be on 21 July 2026 ("Admission"), but in any event no later than a longstop date of 5 August 2026.

The Issue Price represents a discount of approximately 16.08 % to the closing mid-market price of 7.15 pence per Ordinary Share on 13 July 2026.

The net proceeds of the Placing are expected to strengthen Poolbeg's position in ongoing partnering discussions while funding both the POLB 001 TOPICAL trial and the Oral GLP-1 proof-of-concept trial through to completion. The net proceeds of the Placing, together with Poolbeg's existing resources, are expected to extend the Company's cash runway into Q2 2028.

OAK Securities ("OAK") acted as sole bookrunner to the Placing ("Bookrunner") and has been appointed joint broker to the Company. Cavendish Capital Markets Limited ("Cavendish") is acting as nominated adviser to the Company.

The Placing Shares to be issued in the Placing will be issued and allotted under the Company's existing allotment authorities obtained at the Company's last annual general meeting.

Jeremy Skillington, PhD, Chief Executive Officer of Poolbeg, commented:

"This successful fundraise is a great market endorsement of Poolbeg, our strategy and pipeline. Not only does it extend our expected cash runway into Q2 2028, but it strengthens the Company's position in ongoing partnering discussions. Once the data from the POLB 001 TOPICAL trial becomes available, this additional capital will ensure we are best placed to leverage the interest in partnering POLB 001 and generate meaningful value for our shareholders.

We are also delighted to welcome OAK Securities as joint broker. Their institutional reach and ongoing support will be invaluable as we execute our strategy."

Enquiries:

Poolbeg Pharma Plc	+44 (0) 207 183 1499
Jeremy Skillington, CEO	ir@poolbegpharma.com
Ian O'Connell, CFO
Cavendish Capital Markets Ltd (NOMAD & Joint Broker)	+44 (0) 207 220 0500
Geoff Nash, Trisyia Jamaludin, Andrea Callaghan (Corporate Finance)
Nigel Birks (Life Science Specialist Sales)
Harriet Ward (ECM)
OAK Securities (Joint Broker and Sole Bookrunner to the Placing)	+44 (0) 20 3973 3678
Jerry Keen, Calvin Man
Shore Capital Stockbrokers Ltd (Joint Broker)	+44 (0) 207 408 4090
David Coaten, Harry Davies-Ball (Corporate Advisory)
Malachy McEntyre (Corporate Broking)
J&E Davy (Joint Broker)	+353 (0) 1 679 6363
Anthony Farrell, Niall Gilchrist
Optimum Strategic Communications	+44 (0) 208 078 4357
Nick Bastin, Katie Flint, Elena Bates	poolbeg@optimumcomms.com

This Announcement is released by Poolbeg Pharma Plc and contains inside information for the purposes of Article 7 of MAR, and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR.  This inside information is set out in this Announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.

For the purposes of MAR, Article 2 of Commission Implementing Regulation (EU) 2016/1055 and the UK version of such implementing regulation (as amended), the person responsible for arranging for the release of this Announcement on behalf of the Company is Cathal Friel, Executive Chair .

1.    Background to and reasons for the Placing and Use of Proceeds

Poolbeg is a clinical-stage company developing POLB 001, which has the potential to transform the lives of cancer patients by delivering their cancer immunotherapy treatment safely and locally. Poolbeg is also developing an oral, patient-friendly obesity treatment. The Company's clinical programmes target large addressable markets, including cancer immunotherapy-induced Cytokine Release Syndrome ("CRS") and metabolic conditions such as obesity, with the development of an oral encapsulated glucagon-like peptide receptor (GLP-1R) agonist.

The Placing will strengthen Poolbeg's position in ongoing partnering discussions while funding both the POLB 001 TOPICAL (Trial of Prevention of ImmunoCytokine Adverse events in Myeloma) trial and the Oral GLP-1 proof-of-concept trial through to completion. The Placing is expected to extend the Company's financial runway to Q2 2028. Further details on the Company's existing pipeline opportunities are included below.

POLB 001

POLB 001 is a potent and selective orally delivered p38 MAP kinase inhibitor with strong potential across multiple disease areas, including the prevention of cancer immunotherapy-induced CRS, a severe, potentially life-threatening side effect of cancer immunotherapies, and severe influenza.

The Company identified POLB 001 as a potential preventative therapy for cancer immunotherapy-induced CRS and filed corresponding patent applications in 2023. Through focused efforts and execution, the Company has brought this programme from concept to validated preclinical data and now through to clinical testing. MHRA approval for the TOPICAL trial was received in April 2026 and Poolbeg has commenced the TOPICAL trial for POLB 001. The TOPICAL trial is an open label, single arm trial with twice daily oral dosing of POLB 001 prior to and during step-up dosing of the bispecific antibody, teclistamab in approximately 30 relapsed, refractory multiple myeloma patients.

The Company announced on 13 July 2026 that the first patient was dosed in the TOPICAL trial, with interim data expected in late summer 2026. Johnson & Johnson is providing the bispecific antibody, teclistamab, free of charge, to support the trial, which the Directors believe represents a significant validation of the industry's interest in POLB 001 and its potential to prevent CRS. The trial is led by Dr Emma Searle, Consultant Haematologist at The Christie NHS Foundation Trust, Honorary Senior Lecturer at the University of Manchester, and Chair of the British Society of Haematology Research and Grants Committee. The Christie, a leading cancer research institute based in Manchester, and University College London Hospitals have activated their sites and are recruiting patients, while Royal Marsden, University Hospitals Birmingham, NHS Lothian, and Royal Stoke are expected to participate.

Poolbeg is acting as lead industry partner on the RISE programme, a groundbreaking CRS research progamme in which the POLB 001 TOPICAL trial is a key element. The programme is led by Dr Jonathan Lim and is partnered with The University of Manchester, The Christie NHS Foundation Trust, and Johnson & Johnson. The RISE programme will generate additional clinical data on CRS from bispecific antibodies and CAR T-cell therapies, complementing the TOPICAL trial dataset. This programme recognises the unmet need in CRS management, which is a significant bottleneck to the broader availability and uptake of cancer immunotherapies. The research is being funded through a Medical Research Council (MRC) grant of £3.4 million to The University of Manchester and The Christie NHS Foundation Trust under Prosperity Partnership.

Poolbeg held a pre-IND meeting with the FDA in May 2026, whereby the Company achieved clarity on the nonclinical package, indication, Phase 3 design and Phase 3 endpoints. The feedback was aligned with the company's envisaged clinical development path and is compatible with an attractive route to market and an attractive Phase 3 design supporting partnering. The feedback on the indication aligned with significant commercial opportunity and sales forecasts from recent US commercial payer research. The programme has the potential to advance rapidly following the TOPICAL trial, with a path to pivotal trial initiation for a partner. Recent independent US payer research confirmed that CRS represents a significant and costly challenge in the cancer immunotherapy field, as well as limiting the utilisation of new immunotherapy treatments due to the requirement for specialised centres to administer care, creating a treatment bottleneck. Acumetis Global, which conducted the research, observed a willingness for payers to pay at commercially meaningful price points, driven by the potential to reduce hospitalisation costs, potentially allowing for care to be decentralised and ultimately delivering better outcomes for some of the sickest patients. The findings highlight pricing levels that demonstrate POLB 001's multi-billion-dollar peak sales potential, providing the Directors with increased confidence in the Company's anticipated market opportunity and further supporting POLB 001's future potential value and appeal to possible partners. Poolbeg has made strong progress in 2026 and gained strategic momentum through active engagement across partnering and other value-enhancing opportunities.

The Company sees future receipt of positive interim data as a key catalyst for partnering and is progressing constructive partnering discussions with several companies, including mid-size and Big Pharma. The Company's data room is active and under review by external parties, with increased engagement expected as it advances towards interim clinical data read-out.

Poolbeg has a portfolio of patents in place covering p38 MAP kinase inhibitors for the treatment of severe influenza, and for POLB 001 for the prevention of hypercytokinemia, with potential coverage out to 2044. Additional patent applications have been filed to strengthen and complement Poolbeg's POLB 001 patent portfolio, particularly for cancer immunotherapy-induced CRS with recent grants in Canada, Australia and Europe, with market exclusivity up to 11 years and orphan exclusivity up to 10 years. The portfolio includes a patent covering use of POLB 001 for hypercytokinaemia / CRS that was granted by the US Patent Office in April 2024, with a latest expiry date in December 2038, excluding extensions. Developing a strong intellectual property portfolio remains a key priority for Poolbeg, enhancing POLB 001's value and appeal to potential partners. An important step forward has been made with the dosing of the first patient in the TOPICAL trial as the Company evaluates POLB 001 as a potential therapy to prevent CRS associated with cancer immunotherapies. The dosing of the first patient in the TOPICAL clinical trial marks the start of an active period of clinical execution for the POLB 001 programme. Over the coming months, the Company expects a series of value-driving milestones, including additional patient dosing, activation of further clinical sites, interim data and continued progress in partnering discussions.

POLB 001 for elderly acute myeloid leukaemia patients

A pre-clinical study has also been performed by The University of Manchester on the potential for POLB 001 to improve outcomes for elderly acute myeloid leukaemia (AML) patients in combination with Azacitidine (AZA). The key findings from this in vivo study have provided early pre-clinical evidence that POLB 001 may enhance the efficacy of azacitidine in aged mouse models of AML. Azacitidine is a first-line treatment offered to patients with AML. A poster on the study outcomes was presented at the recent European Hematology Conference in Stockholm in June 2026.

Oral encapsulated GLP-1 programme

The Company's oral encapsulated glucagon-like peptide (GLP-1) programme is comprised of a proprietary delivery technology, developed by our collaborators, AnaBio Technologies, to potentially offer an effective oral GLP-1 alternative for the growing obesity market and overcome oral delivery challenges of peptide-based biologicals. The upcoming proof of concept trial will be conducted in up to 20 obese patients at the University of Ulster, led by a team that includes Prof. Carel Le Roux, a notable figure in the field of metabolic medicine, with endpoints including safety, tolerability, and pharmacokinetics. The Company believes that there is potential for further partnerships beyond GLP-1 and that successful results from the trial may provide technology validation to support multiple opportunities for value creation.

The proof-of-concept trial is planned to commence in the second half of 2026. The clinical trial has been designed to complete quickly following dosing of the first patient, providing a rapid path to readout once underway, with the potential for partnering on positive data being received.

Artificial Intelligence ("AI") Programmes

Poolbeg's pipeline also contains preclinical discovery programmes from two AI discovery programmes targeting respiratory syncytial virus ("RSV") and influenza in collaboration with One Three Biotech and CytoReason, respectively. The Directors believe both programmes are large market opportunities. The Company's AI programmes integrate proprietary multi-parametric clinical data to identify novel host response targets. A number of potential targets and clinical-stage repurposing drug candidates have been identified and the Company will continue to seek partnerships for these targets and candidates.

Current Trading and Prospects

The Company has made good progress to date, particularly with POLB 001, and management looks forward to providing updates on the POLB 001 TOPICAL trial, including interim analysis, expected late summer 2026, and the commencement and results from its oral GLP-1R proof of concept trial.  Data from both the GLP-1R proof of concept trial and the POLB 001 TOPICAL trial represent major potential future value inflection points for the Company.

The Directors believe that Poolbeg Pharma remains well-positioned for success, leveraging its proven leadership team's track record and expertise in the pharmaceutical industry with a cash runway, post Placing, into Q2 2028. The Company's focus remains on addressing critical unmet medical needs for patients and thus generating shareholder value as it looks to progress the Company's pipeline.

The Company believes its upcoming clinical data could provide an important catalyst for partnering discussions across its portfolio. Since moving forward with the TOPICAL trial, the Directors have seen increased engagement from potential partners regarding POLB 001, reflecting its significant commercial opportunity and its potential to support broader use of certain cancer immunotherapies by helping to address CRS. As increasing numbers of CRS-inducing cancer immunotherapies enter clinical development, the Directors believe the need for and strategic interest in POLB 001 will continue to grow.

Use of Proceeds

The Company is debt free with cash balances of c.£4.8 million (unaudited) as at 30 June 2026. The net proceeds of the Placing are expected to strengthen Poolbeg's position in ongoing partnering discussions while funding both the POLB 001 TOPICAL trial and the Oral GLP-1 proof-of-concept trial through to completion. The Placing, together with Poolbeg's existing resources, is expected to extend the Company's cash runway into Q2 2028.

2.    Details of the Placing

The Company has conditionally raised, in aggregate, £3.5 million (before expenses), pursuant to a placing of 58,333,328 Placing Shares at the Issue Price with certain existing institutional and other investors.

The Placing is conditional, inter alia, upon admission of the Placing Shares to trading on AIM becoming effective in accordance with the AIM Rules for Companies and occurring by not later than 8.00 a.m. on 21 July 2026.

The total number of Placing Shares to be issued pursuant to the Placing, being 58,333,328 Placing Shares, represent approximately 8.27 per cent. of the Company's issued share capital as at the date of this Announcement. The Company has the authority to issue and allot the Placing Shares pursuant to certain existing shareholder authorities granting such powers to the directors at the Company's Annual General Meeting held on 9 June 2026.

The Placing Shares will, when issued, be credited as fully paid up and will be issued subject to the Company's articles of association and rank pari passu in all respects with the Company's existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid on or in respect of the Ordinary Shares after the date of issue of the Placing Shares, and will on issue be free of all claims, liens, charges, encumbrances and equities.

Application will be made to the London Stock Exchange for the Admission of the Placing Shares to trading on AIM. It is expected that Admission will occur on or around 8.00 a.m. on 21 July 2026, but in any event no later than a longstop date of 5 August 2026.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 763,437,106 with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares held in treasury and therefore the total number of voting rights in the Company will be 763,437,106

 ("Enlarged Share Capital"). The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

In connection with the Placing and pursuant to the terms of its engagement, the Company has agreed to grant to OAK, warrants to subscribe for 2,750,000 new Ordinary Shares (the "Oak Warrants"). The Oak Warrants will be exercisable at the Issue Price for a period of three years from Admission and will be freely transferable. The Oak Warrants will not be admitted to trading on AIM or any other market.

Any new Ordinary Shares issued following exercise of the Oak Warrants will rank pari passu in all respects with the Ordinary Shares then in issue, and application will be made for their admission to trading on AIM at the appropriate time.

3.    Related Party Transaction

Cathal Friel, Executive Chair of the Company, who is a related party for the purposes of the AIM Rules, has agreed to participate in the Placing by acquiring Placing Shares at the Issue Price with an investment of £250,000 (the "Participation").

Name	Title	Number of Existing Ordinary Shares	Number of Placing Shares subscribed for	Resulting shareholding following Admission
Cathal Friel	Executive Chair	41,056,982	4,166,666	45,223,648

Mr. Friel's Participation, referred to above, constitutes a related party transaction pursuant to AIM Rule 13. The Directors independent of the Participation consider, having consulted with Cavendish, the Company's nominated adviser for the purposes of the AIM Rules, that the terms of the Participation are fair and reasonable insofar as the Company's Shareholders are concerned.

About Poolbeg Pharma plc 

Poolbeg Pharma plc (AIM: POLB) is a clinical-stage biopharmaceutical company with a core focus on transforming the cancer immunotherapy field. The Company's lead asset, POLB 001, has the potential to expand administration of cancer immunotherapies from centralised specialist cancer centres into community hospitals by making the treatments safer through the prevention of the life-threatening side effect, Cytokine Release Syndrome (CRS). As such, POLB 001 could increase the number of patients that can receive these life-saving treatments, thereby increasing the market opportunity. Poolbeg is also advancing the development of a patient-friendly therapy for obesity with an oral encapsulated GLP-1, offering a differentiated approach within one of the world's largest markets. With multiple near-term clinical value inflection points, and an experienced team with a proven track record, Poolbeg is focussed on partnering its programmes that are targeting large markets and addressing critical unmet medical needs. 

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Forward-Looking Statements

This announcement may contain forward-looking statements and the words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project" and similar expressions (or their negative) identify certain of these forward-looking statements. The forward-looking statements in this announcement are based on numerous assumptions and Poolbeg's present and future business strategies and the environment in which Poolbeg expects to operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These statements are not guarantees of future performance or the ability to identify and consummate investments. Many of these risks and uncertainties relate to factors that are beyond Poolbeg's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the outcome of clinical trials, the actions of regulators and other factors such as Poolbeg's ability to obtain financing, changes in the political, social and regulatory framework in which Poolbeg operates or in economic, technological or consumer trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. No person is under any obligation to update or keep current the information contained in this announcement or to provide the recipient of it with access to any additional relevant information.

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