FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / News / Read News

Print

4D pharma Closes $30MM Credit Facility with Oxford Finance

July 29, 2021, 07:01 AM
Filed Under: Pharmaceuticals

4D pharma plc closed a senior secured credit facility for up to $30MM with Oxford Finance LLC.

“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 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 $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.







Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.