D 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 2016.
Financial highlights
· Net assets as at 30 June 2016 of £92.1m (31 December 2015: £92.7m and 30 June 2015: £66.6m)
· Cash and cash equivalents and short term deposits at 30 June 2016 of £75.4m (31 December 2015: £85.4m and 30 June 2015: £61.5m)
· Loss attributable to the owners of the parent undertaking for the six months ending 30 June 2016 of £4.6m (31 December 2015: £7.5m and 30 June 2015: £4.1m)
Corporate highlights
· Acquisition in February 2016 of 4D Pharma Cork Limited (formerly Tucana Health Limited), a company founded to investigate the use of microbiome signatures to aid the diagnosis and treatment of disease, focussing initially on diagnosis and patient stratification in Irritable Bowel Syndrome, and building a diagnostic platform across multiple disease areas mirroring 4D Pharma's programmes
· Acquisition in April 2016 by 4D Pharma León, S.L.U. (a newly incorporated Spanish subsidiary) of the production assets of Instituto Biomar, S.A. ("Biomar"), a Spanish based contract research organisation specialising in microbial fermentation, creating a dedicated commercial-scale production facility with established in-house expertise
Other highlights
· Successful phase 1 clinical trial in respect of Blautix, 4D Pharma's proprietary programme for the treatment of Irritable Bowel Syndrome and the first orally delivered live biotherapeutic to undergo a clinical trial, achieving the primary objective of establishing safety and tolerability
· Continued development of the Group's discovery platform MicroRx, expanding its library to over 3,000 proprietary bacteria, targeting discovery of candidates across multiple disease sectors
Since the period end
· Analysis of samples from the Blautix phase 1 trial, generating meaningful data surrounding mechanism of action, trending towards the overall effectiveness of Blautix
· Commencement of dosing in a phase 1 clinical trial in respect of Thetanix, 4D Pharma's proprietary programme for the treatment of Paediatric Crohn's disease
Chairman's statement
David Norwood, Chairman of 4D Pharma commented: "We are delighted with 4D Pharma's progress through the period. We have seen the Group rapidly grow its research capability, and successfully establish its own development facility in León, Spain. The successful phase 1 clinical trial in respect of Blautix, the first in the field, represents a significant milestone for the Company. This is an extremely exciting time to be involved with 4D Pharma, and I would like to thank the board, our employees and our shareholders for their continued support."
