4d pharma increases stake in GT Biologics to nearly 84%

4d pharma, an AIM-listed pharmaceutical company focused on new therapeutic areas, has added an additional 37.5% to its stake in GT Biologics taking its current holding to around 83.5%. The £1.22m consideration was satisfied by the issue of 699,500 new 4d shares at 175p each, reflecting their average mid-market price during the five days immediately prior to the transaction. Duncan Peyton, the Chief Executive Officer of 4d pharma said: "We are delighted to have increased our ownership of GT, an important part of the stated strategy of the company at the time of its admission to AIM, and we look forward to the continued accelerated development of GT's live biotherapeutic candidates."In 2013, GT recorded a loss of £1.06m on zero turnover, with year-end gross assets of just under £0.53m. NR