4D pharma plc (AIM: DDDD) announces the effective merger with Longevity Acquisition Corporation, enhancing its operational capabilities in developing Live Biotherapeutic products. The merger provides 4D with $14.8 million in cash, and 4D ADSs will begin trading on NASDAQ under 'LBPS.' The private placement with Merck Sharp & Dohme Corp. raised an additional $1 million, totaling about $25 million raised thus far. Following the merger, 4D is strategically positioned with an enhanced cash base of $40 million to advance its clinical programs in the microbiome sector.
4D pharma plc (Nasdaq: LBPS; AIM: DDDD) announced the completion of its merger with Longevity Acquisition Corporation. 4D's American Depositary Shares (ADSs) will begin trading on Nasdaq today under the ticker LBPS, while warrants are expected to trade under LBPSW. Following the merger, Longevity's shares ceased trading on Nasdaq. 4D pharma specializes in Live Biotherapeutics, a novel class of drugs derived from the microbiome, and has several clinical programs in progress, including studies involving MRx0518 and MRx-4DP0004 for various conditions.
4D pharma plc (AIM: DDDD) has announced a private placement to raise approximately $24.03 million (£17.29 million) from institutional investors through the issuance of new shares at $1.53 (£1.10) each. This fundraising is conditional on shareholder approval and is associated with the company's merger with Longevity Acquisition Corporation, expected to finalize on 22 March 2021. The funds will primarily support the advancement of their oncology program MRx0518 and other therapeutic areas. CEO Duncan Peyton highlighted the strengthening of their international investor base as a significant outcome of this fundraising effort.
4D pharma plc (AIM: DDDD) announces a collaboration with Merck KGaA and Pfizer to evaluate BAVENCIO® (avelumab) in combination with MRx0518 for urothelial carcinoma. Starting in 2021, this clinical trial aims to assess safety and efficacy after promising results with pembrolizumab. MRx0518 is an oral Live Biotherapeutic aimed at enhancing immune response against tumors. The collaboration builds on previous successes and is expected to improve treatment outcomes for patients who have not progressed after initial chemotherapy.