The interim results from Aberdeen-born 4D Pharma revealed that the first half of 2021 was a “significant period” for the biotechnology firm, according Proactive.
In its review, Chairperson Axel Glasmacher and Chief Executive Duncan Peyton underlined the efforts 4D Pharma was making in a burgeoning health field addressing the microbiome – which is made up of the trillions of microorganisms and their genetic material that live in the intestinal tract.
The company has numerous candidates using live biotherapeutics in trial stages in their pipeline, including treatments for irritable bowel syndrome (IBS), asthma, and pancreatic cancer.
One of the key milestones underpinned in the interim results was from a capital markets perspective. In March, the company created a Nasdaq listing in March via a special acquisition vehicle, which has since boosted their investor base.
The loss for the period before fair value accounting adjustments was £12.7 million, with almost £10 million invested in research and development. It exited the six months to June 30 with £20.7 million of cash and equivalents. It agreed a senior secured debt facility of £22 million after the period-end.
“The first half of 2021 has been a significant period for 4D pharma,” the company said, in a statement to Proactive.
“Our dual listing on Nasdaq raised our international profile and, using this as a platform along with new funds at our disposal, we look ahead to a period rich in clinical catalysts across our pipeline of live biotherapeutic products taking the microbiome beyond the gut, including clinical readouts and the commencement of new studies across multiple programmes.
“Highs and lows in the broader microbiome space have created mixed feelings towards microbiome therapeutic approaches – we are confident 4D pharma’s differentiated, mechanism-driven approach is poised to deliver.”
4D Pharma, which has its head office is in Leeds, also aims to expand its funding opportunities in the US, through the use of a “special purpose acquisition company”, according to the Press and Journal.
