29th Sep 2021 07:00
4basebio UK Societas - UK-based biotech company - Starts development of its pilot clean room project for the production of DNA. Secures 15-year lease on the 4,400 square foot facility, for GBP50,000 per year. Expects to complete instillation before the end of 2021. Aims for the facility to become operational in the first half of 2022, after testing and validation of the clean room.
Plans to manufacture and sell research and pre-clinical grade DNA for use in gene therapies, while working towards securing good manufacturing practice accreditation. Says that, when fully operational, the facility's seven production suites can generate DNA with a value of up to GBP25 million per annum. Earmarks GBP1.5 million for the project. Notes cash runway into 2023, with ability to draw on its GBP22 million debt facility with its former parent company.
Chief Executive Heikki Lanckriet says: "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."
Current stock price: 710.00 pence
Year-to-date change: up 58% since February 19
By Scarlett Butler; [email protected]
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