Proactive Investors - Run By Investors For Investors

4d pharma to fork out £11mln for university start-up

Tucana Health, founded by professors Fergus Shanahan and Paul O'Toole from University College Cork, is hoping to use the microbiome signatures to help diagnose and treat of diseases.
4d pharma to fork out £11mln for university start-up
Initially, 4D’s work with Tucana will focus on the diagnosis of and patient analysis for irritable bowel syndrome.

Ambitious 4D Pharma (LON:DDDD) will splash out just under £11mln in an all paper deal to acquire a university start-up.

Tucana Health, founded by professors Fergus Shanahan and Paul O'Toole from University College Cork, is hoping to use the microbiome signatures to help diagnose and treat of diseases.

For the uninitiated, the microbiome is found in the gut and on the skin.

It consists of 10,000 microbial species and some 8mln protein encoding genes.

What we are beginning to learn is this eco-system, a microbial genome if you will, affects immunity, cognitive heath and the metabolism.

And it appears to be far easier to influence than the human genome, which is the focus of traditional biotechnology.

Initially, 4D’s work with Tucana will focus on the diagnosis of and patient analysis for irritable bowel syndrome. 

Longer term, the idea is to build a diagnostic platform across a number of disease areas mirroring the programmes developed by MicroRx, 4D Pharma's therapeutic platform. 

Duncan Peyton, 4D’s chief executive, said: "We believe the diagnostic platform developed will become an important part of patient care, giving health professionals an understanding of how, or more importantly whether, a patient will respond to a therapeutic regime; but also expanding the information within 4D Pharma to understand and potentially address new therapeutic areas."

The acquisition will be funded by the issue of 1.41mln shares, which at £7.55 each means the deal is worth £10.6mln.

The founders will receive 410,603 shares initially, the rest will be forked over once certain milestones have been achieved.

View full DDDD profile View Profile

4D Pharma Timeline

Newswire
June 10 2016

Related Articles

cannabis
February 27 2019
The company is a leader for dried flower vaporizers, and a pioneer in cannabis telemedicine and AI technologies
Scientists in a lab
January 31 2019
CEO Gary Phillips says Pharmaxis’ healthy cash balance gives it time to choose between in-house and partnering options.
doctor
June 11 2019
Oncimmune is a specialist in the field of immunodiagnostics

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use