4D pharma plc (AIM: DDDD), a pharmaceutical company focussing on the development of live biotherapeutics targeting important new therapeutic areas, is pleased to announce the interim results for the Company and its subsidiaries (together "the Group") for the six months ended 30 June 2015.
Financial highlights
· Net assets as at 30 June 2015 of £66.6m.
· Cash and cash equivalents and short term deposits at 30 June 2015 of £61.5m.
· Loss attributable to the owners of the parent undertaking for the six months ending 30 June 2015 of £4.1m.
Corporate highlights
· Further placing in February 2015 of 8,475,610 new ordinary shares at 410 pence per share, raising £34.3m (net of expenses).
· Acquisition in March 2015 of remaining minority interests in 4D pharma Research Limited (formerly GT Biologics Limited) to increase the Company's stake to 100%.
Other highlights
· Successful development the Company's discovery platform MicroRx, expanding its library to over 2,000 bacteria, targeting discovery of candidates across multiple disease sectors.
· Identification, via the MicroRx platform, of bacteria demonstrating therapeutically relevant effects in pre-clinical models of rheumatoid arthritis and severe asthma.
Since the period end
· Identification, via the MicroRx platform, of bacteria demonstrating therapeutically relevant effects in an industry standard model of multiple sclerosis.
· Entry into a €4.8 million four-year collaboration project with the APC Microbiome Institute at University College Cork; researching the potential applications of live biotherapeutics in relation to Autism Spectrum Disorders and associated disorders of the central nervous system.
· Commencement of phase 1 clinical trials in respect of Blautix™, a live biotherapeutic being developed for the treatment of irritable bowel syndrome.
Chairman's statement
Dave Norwood, Chairman of 4D commented: "The period has seen significant progress towards bringing a new class of therapeutics to market, with the development of the MicroRx discovery platform which has successfully identified therapeutically relevant bacteria in important new disease areas. The period has also seen the second successful institutional placing within the Company's first year post IPO; demonstrating shareholder support for our vision for 4D. With the Company's first programme now having entered into patient trials, and further success for MicroRx, we believe this to be a hugely exciting period for the Company."
