One of Aberdeen’s largest pharmaceutical companies enjoyed a boost its its shares after revealing a trial of one of its drugs found it was safe for patients.
4D Pharma, which bases its research facilities at the University of Aberdeen’s Foresterhill Campus, said the first phase trials of its treatment for irritable bowel syndrom (IBS) was “safe and well tolerated”, which was the primary objective of the trial.
Shares spiked almost 12% but settled at close of the market to a 4.76% rise – adding about £25.6million to the value of the AIM-listed firm.
The phase 1 clinical trial of Blautix involved 56 healthy volunteers and IBS patients. 4D said the trial provided clinical samples and data which will be used to support its understanding of how the drug works, as well as “the effect of a live biotherapeutic on the microbiome”. The company added that it will also use the data to help it develop a diagnostic tool for IBS, which it said it will report on further over coming weeks.
Duncan Peyton, the company’s chief executive, said: “This is a further step towards taking our pipeline, and live biotherapeutics as a class, to market approval. We have shown Blautix to be safe and well tolerated, which we have always believed would be a keystone to the field of live biotherapeutics.
“In addition, this trial is providing patient samples that will give the company a better understanding of what is happening in IBS patients undergoing treatment with Blautix. We believe that this will not only help with the design of the next clinical protocol, but also identify patients who will benefit most from treatment with our live biotherapeutic products.”
The success of the first phase trial comes after the Leeds-headquartered company delayed a trial on its drug, Thetanix, a potential new treatment for Crohn’s disease. It pulled the trial in February after “concerns” emerged during manufacture of a batch of the drug. The company since splurged £4.8million on pharmaceutical grade labortory facilities in Spain which can produce live biotherapeutics made through microbial fermentation.
4D Pharma grew out of GT Biologics, a spin-out of Aberdeen University’s Rowett Institute of Nutrition and Health.
Aquarius Equity Partners took an initial stake in GT Biologics in 2012, after which its name was changed to 4D Pharma.
The Leeds-based private equity firm, which specialises in life sciences, floated 4D the alternative investment market (AIM) in February 2014, in a £16.6million IPO. The company joined the market valued at £36.5million and has since rocketed in value to be worth over £550million.
