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4D pharma plc raise £7.7 million

4D pharma plc announces that it has successfully raised gross proceeds of approximately £7.7 million through a Placing of 16,807,616 new Ordinary Shares and Subscription of 5,090,784 new Ordinary Shares with certain existing and new investors at an Issue Price of 35 pence per share.

The Issue Price represents a 14.6 per cent. discount to the closing mid-market price of 41.0 pence on 10 July 2020, the Business Day before the announcement of the Fundraising. The Fundraising Shares will represent approximately 16.7 per cent. of the Company’s issued share capital following completion of the Fundraising.

The Company intends to use the net proceeds from the Fundraising, together with its existing financial resources, to:

Duncan Peyton, Chief Executive Officer of 4D pharma plc, commented:

“In 2020, 4D pharma has announced multiple key developments which reinforce the Company’s approach to the development of single strain Live Biotherapeutics. 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.”

Singer Capital Markets is acting as Nominated Adviser, Joint Bookrunner and Joint Broker to 4D pharma plc.

About 4D pharma plc

Founded in February 2014, 4D pharma plc is a world leader in the development of Live Biotherapeutic products (“LBPs”), a disruptive class of drug, defined by the FDA as biological products that contain a live organism, such as a bacterium, that is applicable to the prevention, treatment or cure of a disease. 4D has developed a proprietary platform, MicroRx®, that rationally identifies Live Biotherapeutics based on a deep understanding of function and mechanism.

Ticker: DDDD
Market Cap: £44.89 million*
Website: Click here

*As at 13/07/2020

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