Sale of Tucana Health Ltd. to 4D Pharma plc
Tucana Health Ltd. ("Tucana Health") is an early-stage diagnostics company focused on using microbiome signatures to diagnose irritable bowel syndrome. It is a spin-out company of University College Cork.
Pegasus Capital advised on the sale of the business to 4D Pharma Plc.; a therapeutics company listed on the London Stock Exchange. Tucana Health will integrate with 4D Pharma Plc.'s proprietary MicroRx platform which enables the rapid selection of bacteria that have a therapeutic effect in specific diseases. The transaction was structured to include upfront consideration plus additional consideration dependant on the achievement of scientific milestones.
TERMS: EUR 12,000,000