Manchester’s 4d pharma raises £21.5 million with share placing

Manchester drug development company 4d pharma has announced the conditional placing of over 14 million new shares at a price of 150p.

The placing, which was managed by investment banking boutique Zeus Capital, raises the company an additional £21.5 million.

The Manchester-based company successfully floated on AIM in February2014 and raised £16.5 million. Since its stock market listing the shares have performed well and the company had a market capitalisation of £65m prior to the placing.

This placing is conditional on shareholder approval on 11 July 2014.

4d pharma has focused its current interests solely on the microbiomefield and the use of bacteria as live biotherapeutics.

The Board continues to look and is aware of other potential developments, projects and acquisitions in the field of live biotherapeutics that they believe will help build and secure the Company as the world leader in this newly emerging field.

Zeus Capital, which has offices in London, Manchester and Birmingham, is acting as nominated adviser and broker (NOMAD) for 4d pharma.

Ross Andrews, Head of PLC Advisory at Zeus Capital, commented “We are delighted to have raised further funds for 4dpharma as it continues its development in the newly emerging field of live biotherapeutics.

“The management team has a solid track record of creating value for investors and we are proud to be NOMAD and Broker to the company.”

Dan Bate, director of corporate finance at Zeus Capital, commented: “4d pharma is a fantastic brand with an innovative business strategy. We have been pleased by the strong appetite for additional shares from both new and existing mainstream institutional investors.

“It is good to see businesses continuing to find success on the public markets.”

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