03 April 2023
4basebio PLC
("4basebio", the "Company" or the
“Group”)
Signing of new
lease and expansion of 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, announces a further expansion
of its UK facilities.
In light of the continued expansion of its commercial
capabilities, 4BB is relocating its manufacturing and quality
assurance teams to new premises adjacent to its existing clean room
facilities. Consequently, it has entered into a lease
(“Lease”) to rent the premises which provide dedicated laboratory,
warehousing and office space for those teams.
The additional property brings the overall footprint in the UK
to 21,000 square feet and reflects the growth in the UK team to
more than 60 staff today and provides room for further
expansion.
The Lease is for 13 years with an annual cost of approximately
£9 per square foot and has been prepared on the basis of standard
commercial terms. The property’s ownership includes persons related
to Heikki Lanckriet, the Company’s
CEO and CSO.
Related Party Transaction
As a result of the property, over which the Company has entered
into the Lease, being part owned by persons related to a director,
entering into the Lease by the Company constitutes 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.
Dr Heikki Lanckriet, CEO and
CSO for 4basebio, commented: “The addition of the new premises
locates the manufacturing and quality assurance teams alongside the
company’s clean rooms; moreover it will allow the company to
continue expanding its commercial teams at its main facility,
thereby accelerating the company’s capacity to onboard new clients
moving forward.”
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 |
+44 (0)12 2396
7943 |
Heikki Lanckriet, CEO |
|
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Cairn Financial Advisers LLP
(Nominated Adviser) |
+44 (0)20 7213
0880 |
Jo Turner / Sandy Jamieson |
|
|
|
finnCap Ltd (Broker) |
|
Geoff Nash/Richard
Chambers/Charlotte Sutcliffe |
+44 (0)20 7220
0500 |
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|
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.