4D Pharma raises £7.7m to progress studies and clinical development

Listed Leeds pharma firm, 4D Pharma, has raised £7.7 million via a placing and subscription.

The company, which specialises in the development of live biotherapeutic products, has issues around 21.9 million new ordinary shares at a price of 35 pence per share with new and existing investors.

According to a company update, 4D Pharma will use the proceeds to progress opportunities in ongoing studies and clinical development.

This includes building on the recently announced proof-of-concept data in the treatment of certain cancers with a live biotherapeutic, generating data in its COVID-19 clinical trial, and advancing its novel therapeutic strategy for neurodegenerative disease.

Furthermore, the funding will strengthen the company’s balance sheet and provide general working capital.

“In 2020, 4D pharma has announced multiple key developments which reinforce the company’s approach to the development of single strain Live Biotherapeutics,” said 4D Pharma Chief Executive, Duncan Peyton.

“These have included the delivery of what we believe to be the first ever clinical signals of efficacy in the treatment of cancer using LBPs, as well as securing expedited approval to conduct a clinical trial in COVID-19.

“In this period of economic uncertainty, 4D is pleased to announce this injection of capital into the company which is indicative of the continuing strong support of existing and new investors.

“This funding will enable us to ensure that we have the best opportunity to build upon the exciting developments announced to date this year, deliver data from our clinical studies of multiple candidates throughout 2020 and into early 2021, and explore further potential partnerships, all of which the company expects will provide value inflection points to support the company in implementing longer term strategic financing plans.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site but journalism costs money and we rely on advertising and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites with a small donation of even £1, your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

In the meantime may I wish you the very best.

- Advertisement -

Blenrep becomes first anti-BCMA approved globally

GlaxoSmithKline (GSK) has secured US approval for Blenrep (belantamab mafodotin-blmf) as a monotherapy treatment for adult patients with relapsed or refractory multiple myeloma. This indication...

Joint investment sees UK gov secure pipeline of coronavirus vaccine candidate

The UK government and biotech Valneva have jointly invested in a Scottish facility to bolster vaccine manufacturing capacity. The multi-million-pound investment will allow the government...

Redx out-licenses porcupine inhibitor to AstraZeneca

UK drug discovery and development company, Redx Pharma, has signed a significant out-licensing agreement for its porcupine inhibitor, RXC006, with AstraZeneca. AstraZeneca will take RXC006...

New Chief Medical Officer for Valneva

Valneva, a specialty vaccine company based in France, has appointed Juan Carlos Jaramillo, as Chief Medical Officer and member of the Management Board. Starting 1st...

Majority of top pharma firms report YoY growth in 2019 – data

In 2019, 17 of the top twenty major pharmaceutical players reported year-on-year revenue growth, according to GlobalData. “One winner was Takeda, which saw more than...

Related news

ACG promotes Susheel Pillai as the new CEO for Inspection Business

ACG, a leading supplier of fully integrated solutions to the global pharmaceutical and nutraceutical industry, today announced the promotion of Susheel Pillai as the new...

Blenrep becomes first anti-BCMA approved globally

GlaxoSmithKline (GSK) has secured US approval for Blenrep (belantamab mafodotin-blmf) as a monotherapy treatment for adult patients with relapsed or refractory multiple myeloma. This indication...

Joint investment sees UK gov secure pipeline of coronavirus vaccine candidate

The UK government and biotech Valneva have jointly invested in a Scottish facility to bolster vaccine manufacturing capacity. The multi-million-pound investment will allow the government...

Redx out-licenses porcupine inhibitor to AstraZeneca

UK drug discovery and development company, Redx Pharma, has signed a significant out-licensing agreement for its porcupine inhibitor, RXC006, with AstraZeneca. AstraZeneca will take RXC006...