4basebio Plc Share News (4BB)

(Sharecast News) - 4basebio reported strong progress for the year ended 31 December on Tuesday, with revenue doubling from DNA sales to £0.93m and key operational milestones achieved.

The AIM-traded, Cambridge-based synthetic DNA specialist secured a GMP manufacturing licence from the UK's Medicines and Healthcare products Regulatory Agency (MHRA) and supplied materials for use in human trials, including to HelixNano Technologies and a tier one pharmaceutical firm's vaccine programme.

It raised £40m in primary equity funding in November to support its expansion plans and formed a strategic advisory board to guide long-term development.

The company said its intellectual property portfolio grew to 29 patent families as it continued to invest in research and development and target wider application across gene and cell therapy, mRNA therapeutics, AAV, and DNA vaccine platforms.

4basebio said it was aiming to replace plasmid DNA in large-scale manufacturing with its synthetic alternatives, offering faster turnaround and product-specific performance advantages.

The company said it would hold its annual general meeting on 27 June, followed by an investor presentation via the Investor Meet Company platform on 30 June.

"2024 has been a transformational year of growth for 4basebio, closing the strategic investment by Elevage and M&G, securing MHRA certification and continuing to expand our commercial capabilities and client base," said chief executive and chief scientific officer Dr Heikki Lanckriet.

"We are delighted to have supplied product during the year for our client HelixNano to progress its mRNA vaccine programme, as well as the supply of DNA for a tier one pharma vaccine programme.

"We anticipate continued commercial success and strong revenue growth in the year ahead."

At 0933 BST, shares in 4basebio were up 0.44% at 1,130p.

Reporting by Josh White for Sharecast.com.