The Genomics and DNA manufacturing business will remain based in the UK
Following a strategic review, 4basebio (formerly Expedeon) has announced its intention to commence a process to spin off its whole operating business, namely the Genomics and DNA manufacturing business, which includes 4basebio SLU and 4basebio Ltd.
Subject to an ongoing legal and tax review, a spin-off of the business into a separate company is intended which shall have its corporate seat in the UK and be listed on the Alternative Investment Market, a submarket of the London Stock Exchange market.
4basebio is considering retaining a significant minority stake in the new entity and distributing the remaining shares to its existing shareholders. As part of this process, 4basebio will ensure the spin-off is suitably capitalised from the existing cash of 4basebio.
The management board of 4basebio AG would join the board of the spin-off and assume responsibility for the day to day operation of this organisation. As a result of the planed process, 4basebio AG would in addition to its participation in the new company still hold a significant cash position. The intention is to complete this core process by 31 December 2020.