(Alliance News) - Life sciences company 4basebio UK Societas on Friday announced its intention to list on London's junior AIM market.
4basebio UK focuses on therapeutic DNA for gene therapies and DNA vaccines, as well as on solutions for delivering these DNA products to patients in a safe and effective way.
"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," said 4basebio UK.
The Cambridge, England-based company has been divested from German firm 4basebio AG following the EUR120 million disposal of 4basebio AG's proteomics and immunology business to Abcam PLC in January of last year.
After the disposal, 4basebio AG held onto its genomics business, which owned and licensed intellectual property including TruePrime.
According to 4basebio UK: "This is the foundation for building the company's synthetic DNA manufacturing business which [4basebio AG] transferred to the company along with funding to continue the company's development and investment."
Upon admission, 4basebio UK will have approximately GBP14.4 million of cash reserves and its directors believe this provides enough working capital to develop and scale up the company to commercialisation.
Moreover, 4basebio UK will have an up to EUR25 million funding facility provided by 4basebio AG that is can use in pursuit of its investment strategy.
4basebio UK has a wholly-owned Spanish subsidiary called 4asebio SLU as well as a UK subsidiary, 4basebio UK Ltd. This UK subsidiary owns 4basebio Discovery Ltd, a unit focused "on the DNA validation and scaling work required as a prerequisite to moving to [good manufacturing practise grade] manufacturing".
Upon listing, 4basebio UK will issue 12.3 million share at 118 pence per share. It is not planning a capital raise on admission.
Following admission, 4basebio AG will hold a 29.8% stake in 4basebio UK. Other notable shareholders include director Heikki Lanckriet with a 10% stake and Sparta AG with an 11% stake. Delphi Unternehmensberatung AG will have a 5.2% stake and Deutsche Balaton AG a 4.1% stake on admission.
Sparta, Delphi, and Deutsche Balaton are all member or associates of a group of companies controlled by Wilhelm KT Zours, also known as Deutsche Balaton Group, which together with other Deutsche Balaton Group entity Latonba AG hold a 20.3% aggregate stake in 4basebio UK.
By Anna Farley; annafarley@alliancenews.com
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