Destiny Pharma - Administration

Destiny Pharma, a clinical phase biotechnology company dedicated to the development of novel anti-infectives with a focus on infection prevention, entered administration on 21 August.

The company was listed on AIM until earlier this month but obtained shareholder approval to go private after failing to secure a licencing partner to fund the late stage clinical trials of XF-73 Nasal, its main asset. At the time, Destiny Pharma stated that a larger pool of capital may be available to it as a private company. However, a deal does not appear to have materialised.

Stephen Cork and Mark Smith of Cork Gully were appointed joint administrators.