Life sciences firm 4D Pharma said yesterday it was progressing towards a second phase of clinical trials for a potentially breakthrough treatment for irritable bowel syndrome (IBS).
The company, which is headquartered in Leeds but carries out much of its research at Aberdeen University’s Foresterhill campus, also announced a placement of 635,692 new ordinary shares, which it expects to start trading on the Alternative Investment Market next Thursday, worth a total of £2.4million.
Its new stock issue is part of the deal that saw 4D Pharma acquire Irish biotechnology firm Tucana Health – now 4D Pharma Cork – last year, paying £3.1million upfront.
The University College Cork spinout was targeted for research which 4D Pharma believed would support its pipeline of new products based on live bacteria.
Leading the way is Blautix, with a first phase clinical trial completed last year showing the orally delivered product to be safe and tolerated by patients.
According to 4D Pharma, which grew out of Aberdeen University Rowett Institute spinout GT Biologics, IBS sufferers given Blautix had more symptom relief than those receiving placebo.
IBS is a functional bowel disorder characterised by discomfort, pain and changes in bowel habits, affecting 10% to 15% of the population.
Changes to the gut microbiome – the population of microbes in the intestine – is a recognised feature of the disease, with many sufferers having a microbiome which is more unstable and less diverse than healthy individuals. Announcing its share placement, 4D Pharma said research findings to date, including those for its proprietary diagnostic platform MicroDx, were “further evidence implicating the microbiome as a potential causative or exacerbating factor of IBS”.
They also gave the company “further confidence” as it progresses towards the next phase of trials of Blautix.
Chief executive Duncan Peyton added: “These results confirm the potential of the microbiome as a means to provide rapid and accurate diagnosis of disease.
“MicroDx may offer clinicians a tool to provide diagnosis, and in turn provide better outcomes for the patients of what is a misunderstood disease.
“Having validated the platform in IBS, we will look to develop MicroDx across other disease areas, in conjunction with the upcoming trials of our live biotherapeutics in cancer and asthma.”
