4d pharma to raise a further £21m through placing
MANCHESTER drug development company 4d pharma is raising £21.5m through a placing of over 14 million new shares at 150p.
The placing, which was managed by award-winning investment banking boutique Zeus Capital, follows 4d’s AIM listing in February which raised £16.5m, and was also led by Zeus.
The latest fund-raising is conditional on shareholder approval on July 11.
Founder and chief executive Duncan Peyton, said: “We are delighted to have successfully raised these funds through both existing and new investors.
“We would like to thank existing investors for their continued support and encouragement, and we welcome our new investors to the company. This is an incredibly exciting time for 4d pharma as it looks to develop and broaden its work in the microbiome field.”
4d pharma has focused its current interests on the use of bacteria as live bio-therapeutics.
It said the proceeds would be used to: develop Thetanix and Rosburix – which are being developed by its investee business, GT Biologics; to develop other new candidates discovered via its Micro Rx platform; and to identify, develop and, ultimately acquire other microbiome related projects.
Ross Andrews, head of PLC advisory at Zeus said: “The management team has a solid track record of creating value for investors and we are proud to be NOMAD and broker to the company.”
So far this year, Zeus Capital has raised more than £700m for clients.