HOOKIPA Pharma Inc. Enters Non-Binding Discussions for Potential Acquisition of Poolbeg Pharma plc

Hookipa Pharma Inc. (NASDAQ:HOOK) disclosed through a recently filed 8-K form that the company is engaged in non-binding discussions with Poolbeg Pharma plc regarding the potential acquisition of Poolbeg. The initial announcement was released on January 2, 2025, as per Rule 2.4 of the U.K. City Code on Takeovers and Mergers.

In a subsequent update to the initial announcement on January 7, 2025, both Hookipa and Poolbeg confirmed that Gilead Sciences Inc., a significant shareholder in Hookipa, expressed its intention to support Hookipa’s Board recommendation in the event of a formal offer and to take part in the proposed concurrent Fundraise. Gilead currently holds 19.4% of Hookipa’s existing issued share capital.

Furthermore, Hookipa provided details of an amendment to the Fundraise outlined in the original announcement. The company is now preparing for a 100% primary private placement fundraise of around $30 million or more, as opposed to the earlier estimated amount. Oppenheimer & Co. Inc. has been enlisted as the placement agent for Hookipa in connection with the private placement fundraise.

It’s crucial to note that all discussions related to this potential acquisition have been non-binding and non-exclusive thus far, with no guarantees of a firm offer being made or the deal reaching completion.

Additional information and the full update attached as an exhibit in the filing can be found on both Hookipa and Poolbeg’s websites for interested parties. The companies are committed to providing further updates as the situation progresses.

With the involvement of significant stakeholders like Gilead and the revised Fundraise plans, the potential acquisition between Hookipa and Poolbeg Pharma plc showcases a strategic move that could significantly impact both entities should the transaction proceed. Investors are advised to stay informed about further developments regarding this potential combination.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hookipa Pharma’s 8K filing here.

About Hookipa Pharma

HOOKIPA Pharma Inc, a clinical-stage biopharmaceutical company, develops immunotherapeutics targeting infectious diseases and cancers based on its proprietary arenavirus platform. The company's lead infectious disease product candidate is HB-101, which is in a randomized double-blinded Phase 2 clinical trial in cytomegalovirus-negative patients awaiting kidney transplantation from cytomegalovirus-positive donors.