4d pharma in £2m French swoop

BIO-MEDICAL research and investment company 4d pharma is buying an early-stage French business which is developing a patented bacteria to treat Irritable Bowel Syndrome.

The AIM-listed Manchester firm has paid just over £2m to buy The Microbiota Company, made up in £960,000 worth of shares and also by issuing a £1.08m loan made to Microbiota.

The loan, arrranged just before the acquisition, has been fully drawn down and used to secure all of the rights it has over a live biotherapeutic.

Microbiota was developed by the French National Institute for Agricultural Research (INRA). The company has not yet traded and therefore has no historical profit or losses.

Duncan Peyton, chief executive of 4d pharma said: “4d pharma continues to work exclusively in the new drug class of live biotherapeutics. This acquisition further complements our unique platform technology and strengthens our portfolio of drug candidates in development, which we believe could transform treatment options for patients by addressing the underlying causes of disease.

“This acquisition and the continued development of our platform and pipeline will reshape the areas of medicine we focus on and build on 4d pharma’s position as the leader in this emerging field.”