StockMarketWire.com - Biotherapeutics developer 4D pharma launched a share issue to raise £7.7m, to help fund the development of potential treatments for cancer, Covid-19 and neurodegenerative disease.

New shares in the company were being offered at 35p each via a placing and subscription.

The funds would also strengthen the company's balance sheet to explore longer-term strategies, including potential partnership opportunities.

'In 2020, 4D pharma has announced multiple key developments which reinforce the company's approach to the development of single-strain live biotherapeutics,' chief executive Duncan Peyton said.

'These have included the delivery of what we believe to be the first ever clinical signals of efficacy in the treatment of cancer using live biotherapeutic products, as well as securing expedited approval to conduct a clinical trial in Covid-19.'


At 1:17pm: [LON:DDDD] 4d Pharma Plc Ord 0.25p share price was -2p at 39p



Story provided by StockMarketWire.com