Manchester’s 4d pharma acquires further capital in Aberdeen firm at £1.2 million

4d pharma a Manchester pharmaceutical company has announced that it has acquired a further 37.5% of the issued share capital of GT Biologics ltd, for a total consideration of approximately £1.22 million.

This takes its total stake to approximately 83.5% of the issued share capital of GT.

For the year ended December 31 2013, GT had gross assets of £525,408 and recorded a loss of £1.06 million. GT has no turnover.

David Norwood, having consulted with Zeus Capital, considers that the terms of the acquisition are fair and reasonable insofar as shareholders of the Company are concerned.

Duncan Peyton, chief executive officer of 4d pharma commented: “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”.

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