4D Pharma plc (AIM: DDDD), a pharmaceutical company focussing on developing a number of projects targeting important new therapeutic areas, is pleased to announce its interim results covering the period from 10th January 2014 (the date of incorporation of 4D) to 30th June 2014 (or "the period").
Financial Highlights
· Total assets as at 30th June 2014 of £17.2m
· Cash and cash equivalents at 30th June 2014 of £14.1m
· Cash and cash equivalents at 31st August 2014 of £33.2m
Corporate Highlights
· Initial public offering on AIM completed in February 2014 raising a total of £16.55m before expenses
· Further placing in June 2014 raising a total £21.5m before expenses
· Increased the Company's stake in GT Biologics to 83.5%
Other Highlights
· Developed and initiated the Company's discovery platform MicroRx, producing a proprietary library of 1600 novel bacteria
· Discovery pipeline generated using MicroRx and expected to grow significantly over the coming 12 months.
Since the period end
· Acquired The Microbiota Company Limited, a company formed to develop a patented bacteria for the treatment of irritable bowel syndrome and related disease
· Granted orphan drug designation for Rosburix™ for the treatment of Paediatric Colitis
· Announced that Thetanix, a treatment for Paediatric Crohns, and Blautix™, a treatment for irritable bowel syndrome ("IBS"), are anticipated to enter clinical trials in Q2 2015.
· Current discovery pipeline generated using MicroRx and is expected to grow significantly over the coming 12 months.
Chairman's statement
"4D has made great steps towards bringing a new class of therapeutics to market and I am satisfied with the start the company has made. In addition to the progress in our research and clinical programmes, we have built a strong group of shareholders who share and believe in our vision for 4D," stated Dave Norwood, Chairman of 4D. "We believe that being in position to take this new class of therapeutics into patients next year will mark both a significant corporate and scientific milestone for 4D. In addition, with the initiation of our Micro Rx platform, we have a rapidly expanding pipeline, addressing major diseases and together with a strong balance sheet we look forward to an exciting 12 months."
