![]() Consequently, James Clark and David Pike were appointed as Joint Administrators on 24 June 2022 (Section 3 - Background and events leading to the administration). Further to obtaining legal advice that an event of default had occurred, Oxford Finance appointed administrators under its QFC which grants enforceable security.Oxford Finance had concerns over the erosion of its collateral and asserts that it did not have sufficient assurances regarding the ongoing viability of the business.However, with significant uncertainty currently affecting the global capital markets, the Company was ultimately unable to progress the fundraising sufficiently quickly to deliver the required funding into the business. To maintain its clinical trials and other research activity, the Company recently embarked on a fundraising exercise to help fuel the next stage of its growth.The Group has launched several clinical trials, some of which are conducted in collaboration with key pharmaceutical industry players, such as MSD and Merck KGaA. The Group has a diverse pipeline of development programmes in several therapeutic areas, including gastro-intestinal, immuno-oncology, and respiratory conditions. 4D Group is a pharmaceutical group of companies developing Live Biotherapeutic Products ('LBP'), a novel class of drug derived from the human gut microbiome.The Company's shares are listed on AIM (albeit are now suspended) and were previously also listed on NASDAQ. 4D Pharma Plc (the 'Company' or '4D Plc') was incorporated on 10 January 2014 and operates as a parent company to a group of companies that share the 4D Pharma brand ('4D Group' or the 'Group').Philip Davies / James Fischer (Corporate Finance) +44 (0)20 7496 3000 The contents of the main body of the Proposals (without appendices, definitions, or schedules) are set out below.ĤD Capital Markets - Nominated Adviser and Joint Broker ![]() ![]() The Proposals, including appendices, are available to view on the Company's website at as well as on Interpath Advisory's insolvency portal at. Leeds, UK, August 4, 2022, - 4D pharma plc (AIM: DDDD), a pharmaceutical company leading the development of Live Biotherapeutic products (LBPs), a novel class of drug derived from the microbiome, announces that the joint administrators of 4D Pharma plc (the "Company") have posted their statement of proposals to the members and creditors of the Company in accordance with the Insolvency Act 1986 and the Insolvency Rules (the "Proposals"). Publication of Joint Administrators' Proposals
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