4D raises £30m in fresh placing

4D pharma is to raise a further £30m through a shares placing to accelerate its pipeline of exciting potential new cures for a range of diseases.

The fundraising is Manchester-based 4D’s third placing since its listing in early 2014. Since its IPO in AIM its shares have rocketed on the back of a flow of good news about its work on live biotherapeutic remedies.

In its latest deal 4D has today conditionally placed with investors 3,797,469 new ordinary shares through its broker Zeus Capital at a placing price of 790p per ordinary share.

The proceeds of the placing will be used to: accelerate the development of the 2nd generation MicroRx live biotherapeutics into the clinic; further expand and develop its cancer programmes and also identify additional research opportunities and programmes.

Last week 4D said in a research update it was exploring the development of a treatment for some hard-to-treat cancers and it is already working on a possible breakthrough drug for Multiple Sclerosis.

Chief executive Duncan Peyton said: “We are pleased to have raised additional funds, and thank the investors for giving the company both the confidence and capital to continue its rapid development.

“Over the last 12 months we have shown the capability not only to take live biotherapeutics into patients, but the ability to rapidly identify and develop new therapeutics that are ready for testing in patients across new disease areas in an incredibly short period of time.  Over the next 12 months we again look to further advance live biotherapeutics and continue to build on our class leading platform.”