4d Pharma PLC Issue of Equity (8374O)
August 24 2017 - 1:00AM
UK Regulatory
TIDMDDDD
RNS Number : 8374O
4d Pharma PLC
24 August 2017
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
4D pharma plc
(the "Company" or "4D")
Issue of Equity
4D pharma plc (AIM: DDDD), a pharmaceutical company focusing on
the development of live biotherapeutics, announces that it allotted
635,692 new ordinary shares on 23 August 2017.
The allotment represents deferred consideration in respect of
the acquisition of the entire issued share capital of 4D Pharma
Cork Limited (formerly Tucana Health Limited), which completed in
February 2016; and follows the achievement of 4D Pharma Cork's
initial milestone.
The milestone achieved reflects the technical validation of the
MicroDx diagnostic platform enabling the stratification of IBS
patients. MicroDx has been designed to diagnose, stratify and
monitor the treatment of patients based on their gut microbiome,
the bacteria which colonise the human gastrointestinal tract.
IBS is a functional bowel disorder characterised by discomfort,
pain and changes in bowel habits, affecting 10-15% of the
population. It is subdivided into constipation (C), diarrhoea (D)
and mixed (M) subtypes.
The MicroDx platform has now completed its first clinical trial,
validating the platform (the 'MicroDx trial'). The MicroDx trial
profiled 80 clinically diagnosed IBS patients (recruited across all
subtypes according to the Rome III/IV criteria) and 65 healthy
volunteers, with MicroDx demonstrating the ability to differentiate
between IBS patients and healthy volunteers. As reported earlier in
the year, this research had also given insights into the disease,
such as the marked difference between the microbiome of healthy
volunteers and IBS patients, and the commonalities of microbiome
across all IBS subtypes.
The differences between healthy and IBS patients demonstrated in
the MicroDx trial support the findings from the phase I Blautix
trial, which primarily demonstrated the safety and tolerability of
Blautix, but also showed a positive trend of an increasing
stability and diversity of the microbiome of patients on Blautix as
opposed to placebo. The combination of these results provides
further evidence implicating the microbiome as a potential
causative or exacerbating factor of IBS, and gives 4D further
confidence as the Company progresses towards the phase II trial of
Blautix. Additionally, with 80 well-defined IBS patients, the
MicroDx trial also provides access to patients eligible for the
upcoming phase II Blautix trial.
Duncan Peyton, 4D's Chief Executive Officer, commented: "These
results confirm the potential of the microbiome as a means to
provide rapid and accurate diagnosis of disease. In respect of IBS,
a disease which affects up to 10-15% of the population, MicroDx may
offer clinicians a tool to provide diagnosis, and in turn provide
better outcomes for the patients of what is a misunderstood
disease. The work carried out by the 4D team in Cork has also built
further evidence supporting the use of a live biotherapeutic across
all subtypes of the disease, and the trial itself provides a well
understood cohort to potentially kick start our phase II Blautix
trial. Further, having validated the platform in IBS, we will look
to develop MicroDx across other disease areas, in conjunction with
the upcoming trials of our live biotherapeutics in cancer and
asthma."
The new 4D ordinary shares have been allotted for an aggregate
value of EUR2.6 million* (at GBP3.7575 per 4D share, being the
average mid-market price of a 4D share for the five business days
immediately preceding the date of allotment). Application has been
made for the new 4D shares to be admitted to trading on AIM
("Admission"), and it is expected that Admission will take place on
31 August 2017.
Following Admission, the Company's issued share capital will
consist of 65,493,842 ordinary shares. There are no ordinary shares
held in treasury. Therefore, in accordance with the FCA's
Disclosure and Transparency Rule 5.6.1, the Company confirms that,
following Admission, the total number of voting rights in the
Company will be 65,493,842.
*Exchange rate used: GBP1 : EUR1.0885
For further information please contact:
4D + 44 (0)113 895 0130
Duncan Peyton, Chief Executive Officer
Zeus Capital Limited - Nomad and Joint Broker
Dan Bate +44 (0) 161 831 1512
Phil Walker +44 (0) 203 829 5000
About 4D
Founded in February 2014, 4D is a world leader in the
development of live biotherapeutics, a novel and emerging class of
drugs, defined by the FDA as biological products that contain a
live organism, such as a bacteria, that is applicable to the
prevention, treatment or cure of a disease. 4D has developed a
proprietary platform, MicroRx, that rationally identifies novel
bacteria that have a precise and evolved therapeutic effect. All of
4D's live biotherapeutic products are orally delivered single
strains of bacteria that are naturally found in the healthy human
gut. 4D currently has a pipeline of 13 preclinical programmes,
covering disease areas such as rheumatoid arthritis, multiple
sclerosis and cancer, and is currently conducting subject trials in
Irritable Bowel Syndrome and Paediatric Crohn's Disease. The
programmes in Paediatric Ulcerative Colitis and Paediatric Crohn's
Disease have both been granted Orphan Drug Status by the FDA.
This information is provided by RNS
The company news service from the London Stock Exchange
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