Life Sciences Firm 4basebio UK Societas Begins Trading On AIM

(Alliance News) - Life sciences company 4basebio UK Societas started trading on London's junior ...

Alliance News 17 February, 2021 | 1:30PM
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(Alliance News) - Life sciences company 4basebio UK Societas started trading on London's junior AIM market on Wednesday after its initial public offering.

4basebio issued 12.3 million shares at 118 pence per share, giving it a market capitalisation of roughly GBP14.5 million. The stock was trading at 300p on Wednesday afternoon, more than doubled from the IPO price.

Chief Executive Heikki Lanckriet 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. We would also like to extend our thanks to our staff, advisors and shareholders who continue to support our ongoing growth strategy."

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 first unveiled plans for a London float back in January.

The Cambridge, England-based company has been spun off 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.

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.

Following admission, 4basebio AG will hold a 29.8% stake in 4basebio UK. Other notable shareholders include CEO 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 Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
4basebio UK Societas Ordinary Shares 375.25 GBX -5.00 -

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