Poolbeg slumps as Hookipa merger is called off

A proposed merger of the UK’s Poolbeg Pharma with Austrian biotech Hookipa has been called off after the latter abruptly withdrew from negotiations.

The news was announced in a stock exchange filing by Poolbeg this morning that said the company was “surprised and disappointed” by Hookipa’s decision.

In January, London-listed Poolbeg said it was pursuing an all-share merger with Hookipa, which is listed on the Nasdaq in the US, to create a biopharma company focused on immunotherapies for the treatment of cancer and other serious diseases.

It would have two principal assets – Poolbeg’s…