£14.5m market cap for 4basebio on AIM float
Cambridge-based 4basebio UK Societas – a specialist life sciences group – today made its bow on AIM with 12,317,473 ordinary shares in issue and a market cap of around £14.5 million.
The company is focused on exploiting its IP in the field of gene therapies and DNA vaccines.
Business Weekly understands that a team at Mills & Reeve LLP, led by Stephen Hamilton and Kristian Shearsby, acted for 4basebio as legal adviser. Cairn Financial Advisers LLP acted as Nominated Adviser and finnCap as Broker with Crowe UK LLP acting as auditors and reporting accountants.
Heikki Lanckriet, CEO at 4basebio, said: “We are delighted to be admitted to AIM today. As a Cambridge based company with significant ambitions, we believe AIM is the ideal market to support our further development.”
4basebio is a specialist life sciences group focused on therapeutic DNA for gene therapies and DNA vaccines and providing solutions for effective and safe delivery of these DNA based products to patients.
It is the intention of the company to become a market leader in the manufacture and supply of high purity, synthetic DNA for research, therapeutic and pharmacological use.
The immediate objectives of 4bb are to validate and scale its DNA synthesis and advance its collaborations to facilitate the functional validation of its DNA based products and gene delivery solutions.
The business divested from 4basebio AG, a German company listed on the Prime Standard segment of the Frankfurt Stock Exchange, following the disposal by 4bb AG (then named Expedeon AG) of its proteomics and immunology business to AIM-quoted Abcam plc in January 2020 for €120m.
Following the disposal, 4bb AG retained its genomics business which owned and licensed certain intellectual property including its proprietary, patent-protected technology, TruePrime™.
This is the foundation for building the company’s synthetic DNA manufacturing business which 4bb AG transferred to the Company along with funding to continue the company’s development and investment. The directors say that that the massive cash reserves created by the IPO will provide sufficient working capital for the development and scale-up of the business to commercialisation.
The company has a wholly-owned Spanish subsidiary, 4basebio S.L.U. and a wholly-owned UK subsidiary, 4basebio UK Limited which in turn wholly-owns 4basebio Discovery Limited.
Cambridge will continue to act as the beating heart of the business in terms of expanding R & D capability and global influence.