Leeds-based 4D pharma announces $30m credit facility with Oxford Finance
A Leeds-based pharmaceutical company has secured access to extra capital to help it grow.
4D pharma has announced the closing of a senior secured credit facility for up to $30m with Oxford Finance, a finance firm that provides senior debt to life sciences and healthcare services companies.
Duncan Peyton, CEO of 4D pharma, said: "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 programmes to bring first-in-class Live Biotherapeutics to market.
"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."