4basebio Plc Development of GMP Manufacturing Capacity

 
TIDM4BB 
 
4basebio PLC 
 
                  ("4basebio", the "Company" or the "Group") 
 
                   Development of GMP manufacturing capacity 
 
4basebio PLC (AIM: 4BB), the specialist life sciences group focused on 
exploiting intellectual property in the field of cell and gene therapies and 
DNA vaccines, is pleased to announce that it has commenced the development of 
its pilot clean room project for the purpose of manufacturing GMP standard DNA. 
 
The manufacturing capacity is being developed in a dedicated 4,400 square feet 
facility ("the Facility") with the installation expected to be completed before 
the end of 2021. The Facility will provide for seven DNA production suites 
which, when fully operational, will be capable of generating quantities of DNA 
with a value in excess of £25 million per annum (based on current market prices 
and depending on customer order batch sizes). 
 
Once completed, the Facility will undergo testing and validation with a view to 
becoming operational during H1 2022. The Company then plans to manufacture and 
sell research and pre-clinical grade DNA while working towards securing GMP 
accreditation. 
 
The Company will initially focus on the sale of DNA for use in AAV vectors, a 
common method of delivering gene therapies; and In Vitro Transcription, where 
DNA is the template for the manufacture of mRNA.  For both products, DNA is a 
critical starting material. 
 
The decision to develop the clean rooms in a dedicated facility was taken 
following consideration of the overall space requirements for the DNA and 
nanoparticle sides of the business.  In order to develop the manufacturing 
capacity required, 4basebio UK, a subsidiary of the Company, has secured a long 
term lease for the Facility. 
 
The earmarked capital commitment for this project is about £1.5 million. 
Consistent with previous indications, the Company has a cash runway into 2023 
and will also be able to draw on the £22m debt facility with its former parent 
company, if necessary. 
 
Dr Heikki Lanckriet, CEO and CSO for 4basebio, commented: "We are very pleased 
to have commenced the development of this manufacturing facility, with the 
objective of taking the final steps in the commercialisation of our DNA 
technology.  Alongside the clear market need for additional DNA manufacturing 
capacity, our synthetic DNA offers clear advantages over plasmid DNA, which we 
believe places 4basebio in a strong competitive position." 
 
Related Party Transaction 
 
The Company has secured a lease for the Facility on standard commercial terms 
for a period of 15 years with break clauses at an annual cost of £50,000 per 
annum. Dr Lanckriet, the CEO and CSO of the Company, has a 50 percent indirect 
interest in the head lease of the Facility. Accordingly, the entering into the 
Lease by the Company is deemed to be a related party transaction 
("Transaction") pursuant to the AIM Rules for Companies.  With the exception of 
Dr Lanckriet, the directors of the Company, having consulted with the Company's 
Nominated Adviser, Cairn Financial Advisers LLP, consider the terms of the 
Transaction to be fair and reasonable insofar as the Company's shareholders are 
concerned. 
 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the 
European Union (Withdrawal) Act 2018). 
 
For further enquiries, please contact: 
 
4basebio PLC                                             [phone] 
 
Heikki Lanckriet, CEO 
 
Cairn Financial Advisers LLP (Nominated Adviser)         [phone] 
 
Jo Turner / Sandy Jamieson 
 
finnCap Ltd (Broker) 
 
Geoff Nash/Richard Chambers/Charlotte Sutcliffe          [phone] 
 
 
Notes to Editors 
 
4basebio (AIM: 4BB) is a specialist life sciences group focused on therapeutic 
DNA for cell and 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 and develop non-viral vectors for the efficient delivery of 
payloads. 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 cell and gene delivery solutions. 
 
Forward-looking statements 
 
This announcement may contain certain statements about the future outlook for 
the 4basebio.  Although the directors believe their expectations are based on 
reasonable assumptions, any statements about future outlook may be influenced 
by factors that could cause actual outcomes and results to be materially 
different. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

September 28, 2021 02:00 ET (06:00 GMT)