Ken Fennell and Andrew O’ Leary of Interpath Advisory were appointed Joint Receivers over 4D Pharma (Cork) Limited (“the Company”), on 21 February 2023.
Headquartered in Cork, the Company is a provider of microbiological research services, with a focus on the development of Live Biotherapeutics, an innovative and emerging class of drugs, defined by the FDA as biological products that contain a live organism, such as a bacterium, that is applicable to the prevention, treatment or cure of a disease.
The Company has 10 employees operating out of its Cork premises and is a subsidiary of 4D Pharma plc, a UK registered entity which was placed into administration on 24 June 2022 with David Pike and James Clark of Interpath Advisory acting as Joint Administrators.
Following the administration of its parent company, the directors undertook an exploration of a number of options to safeguard the future of the business in Ireland. Regrettably, no solution was forthcoming, and the directors took the difficult decision to invite the appointment of the Joint Receivers.
Ken Fennell, Managing Director at Interpath Advisory and Joint Receiver, said: “Our immediate priority is to take steps to secure the Company’s assets, while seeking to gather further information about the Company’s financial position.”
