Poolbeg Pharma names executive chairman

Cathal Friel, co-founder, substantial shareholder, and currently non-executive chairman of London-listed Poolbeg Pharma (AIM: POLB), is assuming the role of executive chairman at the company effective immediately.

Mr Friel brings valuable experience from his longstanding track record of value creation in a number of public companies, including as co-founder of Amryt Pharma, which was acquired by Italy’s Chiesi Farmaceutici for $1.48 billion in 2023. He was also the executive chairman and co-founder of hVIVO (formerly Open Orphan plc) which IPO'd in June 2019 at 5.6 pence with a market capitalization of ~£14 million. Open Orphan plc made a recommended all-equity offer for hVIVO in December 2019 for £12.96 million with the acquisition completing in January 2020. Since then, Cathal and his team have transformed hVIVO into a fast growing, profitable company with revenues of over £56 million, a share price of ~28 pence and a market capitalization of ~£200 million.

Mr Friel will continue to work closely with the company's chief executive, Jeremy Skillington and the now expanded leadership team, several of whom have recently joined from Amryt Pharma.