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RNS Number : 8357G
4d Pharma PLC
29 July 2021
4D pharma Announces $30 Million Credit Facility with Oxford
Finance
Leeds, UK, July 29, 2021 - 4D pharma plc (AIM: DDDD, NASDAQ:
LBPS) , a pharmaceutical company leading the development of Live
Biotherapeutic products (LBPs), a novel class of drug derived from
the microbiome, today announces the closing of a senior secured
credit facility for up to $30m with Oxford Finance LLC, a specialty
finance firm that provides senior debt to life sciences and
healthcare services companies.
"The credit facility from Oxford Finance provides access to
additional capital strengthening our financial position and
increasing our financial flexibility as we continue to advance our
programs to bring first-in-class Live Biotherapeutics to market,"
said Duncan Peyton, CEO of 4D pharma. "The initial $12.5 million
tranche of this financing extends our cash runway into Q 4 2022,
with multiple clinical catalysts throughout 2021 and 2022."
"4D pharma have made remarkable progress in advancing their
portfolio of novel drug candidates across multiple therapeutic
areas, demonstrating their leadership in the microbiome field,"
said Christopher A. Herr, senior managing director at Oxford
Finance. "Oxford Finance is pleased to support 4D pharma as it
continues to progress its pipeline of innovative Live
Biotherapeutics."
This financing provides 4D pharma with up to $30 million of cash
in three tranches: an initial tranche of $12.5 million at closing,
with the remaining $7.5 million and $10 million tranches dependent
on the achievement of certain milestones. The facility will require
4D pharma to make monthly interest-only payments through to
September 1, 2023, or, subject to the achievement of development
milestones, September 1, 2024.
4D pharma has also granted Oxford Finance a warrant, exercisable
for five years from today, to subscribe for 212,568 new ordinary
shares in the Company at $1.18 per share. Further warrants will be
granted to Oxford Finance as further tranches are drawn down.
About 4D pharma
4D pharma is a world leader in the development of Live
Biotherapeutics, a novel and emerging class of drugs, defined by
the FDA as biological products that contain a live organism, such
as a bacterium, that is applicable to the prevention, treatment or
cure of a disease. 4D has developed a proprietary platform,
MicroRx(R), that rationally identifies Live Biotherapeutics based
on a deep understanding of function and mechanism.
4D pharma's Live Biotherapeutic products (LBPs) are orally
delivered single strains of bacteria that are naturally found in
the healthy human gut. The Company has five clinical programs,
namely a Phase I/II study of MRx0518 in combination with
KEYTRUDA(R) (pembrolizumab) in solid tumors, a Phase I study of
MRx0518 in a neoadjuvant setting for patients with solid tumors, a
Phase I study of MRx0518 in patients with pancreatic cancer, a
Phase I/II study of MRx-4DP0004 in asthma, and Blautix(R) in
Irritable Bowel Syndrome (IBS) which has completed a successful
Phase II trial. Preclinical-stage programs include candidates for
CNS disease such as Parkinson's disease and other neurodegenerative
conditions. The Company has a research collaboration with MSD, a
tradename of Merck & Co., Inc., Kenilworth, NJ, USA, to
discover and develop Live Biotherapeutics for vaccines.
For more information, refer to https://www.4dpharmaplc.com
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior
secured loans to public and private life sciences and healthcare
services companies worldwide. For over 20 years, Oxford has
delivered flexible financing solutions to its clients, enabling
these companies to maximize their equity by leveraging their
assets. In recent years, Oxford has originated over $7 billion in
loans, with lines of credit ranging from $5 million to $150
million. Oxford is headquartered in Alexandria, Va., with
additional offices in San Diego, Calif.; Palo Alto, Calif.; and the
greater Boston and New York City areas. For more information, visit
https://oxfordfinance.com/
Contact Information:
4D pharma
Investor Relations: ir@4dpharmaplc.com
Singer Capital Markets - Nominated Adviser and Joint Broker +44
(0)20 7496 3000
Philip Davies / Iqra Amin / James Fischer (Corporate
Finance)
Tom Salvesen (Corporate Broking)
Bryan Garnier & Co. Limited - Joint Broker +44 (0)20 7332
2500
Dominic Wilson / Phil Walker
Stern Investor Relations, Inc. +1-212-362-1200
Julie Seidel Julie.seidel@sternir.com
Image Box Communications +44 (0)20 8943 4685
Neil Hunter / Michelle Boxall
neil@ibcomms.agency / michelle@ibcomms.agency
Forward-Looking Statements
This announcement contains "forward-looking statements." All
statements other than statements of historical fact contained in
this announcement, including without limitation statements
regarding the availability of future tranches, the intended use of
proceeds, the effect of the funds on the company's current and
future financial position and flexibility, the duration of the cash
runway resulting from the initial tranche, and the company's
leadership position in the microbiome field are forward-looking
statements within the meaning of Section 27A of the United States
Securities Act of 1933, as amended (the "Securities Act"), and
Section 21E of the United States Securities Exchange Act of 1934,
as amended (the "Exchange Act"). Forward-looking statements are
often identified by the words "believe," "expect," "anticipate,"
"plan," "intend," "foresee," "should," "would," "could," "may,"
"estimate," "outlook" and similar expressions, including the
negative thereof. The absence of these words, however, does not
mean that the statements are not forward-looking. These
forward-looking statements are based on the Company's current
expectations, beliefs and assumptions concerning future
developments and business conditions and their potential effect on
the Company. While management believes that these forward-looking
statements are reasonable as and when made, there can be no
assurance that future developments affecting the Company will be
those that it anticipates.
All of the Company's forward-looking statements involve known
and unknown risks and uncertainties, some of which are significant
or beyond its control, and assumptions that could cause actual
results to differ materially from the Company's historical
experience and its present expectations or projections. The
foregoing factors and the other risks and uncertainties that affect
the Company's business, including the risks that the conditions to
future tranches will not be satisfied, and that the funds do not
provide the anticipated benefits or last for the anticipated cash
runway, and those additional risks and uncertainties described the
documents filed by the Company with the US Securities and Exchange
Commission ("SEC"), should be carefully considered. The Company
wishes to caution you not to place undue reliance on any
forward-looking statements, which speak only as of the date hereof.
The Company undertakes no obligation to publicly update or revise
any of its forward-looking statements after the date they are made,
whether as a result of new information, future events or otherwise,
except to the extent required by law.
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