LONDON (Alliance News) - 4d Pharma PLC Wednesday said it has acquired a further 37.5% stake in GT Biologics Ltd for GBP1.22 million in new 4d Pharma shares, taking its total shareholding in the GT Biologics to 83.5%.
4d Pharma, which focuses on significant new therapeutic areas, said the acquisition was satisfied by the issue of 699,500 new 4d Pharma shares at GBP1.75 each. The shares were quoted up 1.0% at 176.70 pence Wednesday morning
GT Biologics is focused on the research and development of biological therapeutics.
In 2013, GT Biologics posted a loss of GBP1.1 million, with no revenues, and had gross assets of GBP525,408.
4d Pharma said that as a result of the acquisition, Chief Executive Duncan Peyton and Chief Scientific Officer Alex Stevenson both increased their shareholding in the company.
Peyton now holds a 17.1% stake in 4d Pharma, while Stevenson holds a 16.8% shareholding.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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