“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 USD 12.5 million tranche of this financing extends our cash runway into Q4 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 USD 30 million of cash in three tranches: an initial tranche of USD 12.5 million at closing, with the remaining USD 7.5 million and USD 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 USD 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 and Co., Inc., Kenilworth, NJ, USA, to discover and develop Live Biotherapeutics for vaccines.
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 USD 7 billion in loans, with lines of credit ranging from USD 5 million to USD 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.
https://oxfordfinance.com/
"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 USD 30 million of cash in three tranches: an initial tranche of USD 12.5 million at closing, with the remaining USD 7.5 million and USD 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 USD 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 and Co., Inc., Kenilworth, NJ, USA, to discover and develop Live Biotherapeutics for vaccines.
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 USD 7 billion in loans, with lines of credit ranging from USD 5 million to USD 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.
https://oxfordfinance.com/
Disclaimer: The text above is a press release that was not written by Finyear.com.
Avertissement : Le texte ci-dessus est un communiqué de presse qui n'a pas été rédigé par Finyear.com.
Avertissement : Le texte ci-dessus est un communiqué de presse qui n'a pas été rédigé par Finyear.com.
Autres articles
-
Agenda | Finyear est partenaire de The Finance Magnates London Summit 2024
-
Sagard NewGen acquiert FuturMaster, éditeur leader de solutions SaaS en Supply Chain Planning et Revenue Growth Management, aux côtés de son équipe dirigeante
-
Coinbase et Visa, un partenariat pour des transferts en temps réel
-
Nominations | Meanings Capital Partners renforce son équipe avec l'arrivée de Malina Calvat en qualité de Chargée d'Affaires et Cédric Livet au poste d'Analyste
-
Blockchain Life 2024 a réuni la communauté crypto de 120 pays à Dubaï