CAMBRIDGE, UK – 20 May 2026 – 4basebio plc (AIM: 4BB), a company pioneering an enzymatically-produced DNA technology serving the next generation genetic medicines markets, announces its audited final results for the year ended 31 December 2025.
FINANCIAL HIGHLIGHTS
- Revenue for the period of £1.7 million (FY 2024: £0.9 million), representing growth of 81%, with revenue from clinical stage projects contributing £1.1 million (FY 2024: £0.5 million), and DNA sales revenue increasing by 100%
- Loss for the period of £16.9 million (FY 2024: £12.3 million), reflecting continued planned investment in commercial infrastructure, GMP capabilities and product development
- Cash and cash equivalents of £17.8 million at 31 December 2025 (FY 2024: £34.6 million), with a subsequent €7 million drawdown under the Deutsche Balaton facility in April 2026 providing the Group with funding into late-2027
OPERATIONAL HIGHLIGHTS
- Growing commercial momentum with a diverse and broadened customer base, driven by an expanding product offering focusing on gene editing, mRNA, viral vectors and DNA vaccines
- New business pipeline value increased by 41% from Q3 to Q4 2025, reflecting strong market demand and enhanced business development focus; approximately half of the pipeline is GMP/HQ opportunities, with momentum in new business continuing post-year end
- Receipt of MIA IMP Good Manufacturing Practice (GMP) certification from the UK’s Medicines and Healthcare Products Regulatory Agency (MHRA), significantly enhancing the Company’s ability to support customers through the clinical development lifecycle
- Tier 1 pharmaceutical partnership commenced, with supply of enzymatically-produced DNA for mRNA vaccine Phase I/II programme
- Customer base growth to 125+ customers, with four Investigational New Drug (IND) and Clinical Trial Authorisations (CTAs) supported
- Further clinical validation achieved through supply of opDNA™ for an mRNA vaccine trial
- Appointment of senior, US and EU-focused commercial team experienced in genetic medicines and CDMO services, accelerating 4basebio’s business development activity in North America
- Expansion of intellectual property portfolio to 33 patent families, reinforcing 4basebio’s market leading position in synthetic DNA
- Dr Manja Boerman appointed as Executive Chair, bringing 25 years of experience in biologics and advanced therapies, including executive roles at Catalent’s cell, gene, and protein thearpy division, DSM Biologics, and Patheon Biologics
POST-PERIOD END HIGHLIGHTS
- Senior leadership team appointed to align 4basebio for acceleration of commercialisation, with the appointment of Dr Amy Walker as Chief Executive Officer in February 2026
- Richard Bungay named Chief Financial Officer with a start date of July 2026
- Christine Wolosin promoted to Chief Commercial Officer to lead global Business Development
- Appointment of Scott Lorimer, a 30-year veteran of bioprocess development and commercial manufacturing as Chief Operating Officer, to lead the building of 4basebio’s commercial infrastructure-
- Signed a new multi-year, approximately seven-figure Clinical Supply Agreement reflecting increased commercial momentum, as 4basebio’s opDNA® technology will support a Phase II clinical trial of immunotherapy candidate
Dr Amy Walker, Chief Executive Officer of 4basebio, commented:
“2025 represented a step-change for the Company, with GMP accreditation, a growing customer base and commercial appointments underpinning our transition into a highly commercially focused business. 4basebio’s expertise in enzymatic DNA manufacturing offers superior safety and efficacy compared with plasmid DNA, and we are seeing more advanced therapy developers recognising these advantages, underlined by the continued clinical use of our technology.
“Since taking the role of CEO of 4basebio, I’ve been focused on putting the right team in place for this commercial phase and I’m excited by the progress we have achieved. We now have the personnel and infrastructure to drive delivery. After the period end, we’ve seen this reflected in strong commercial progress, enabled by a more diverse product offering and exceptional scientific and commercial teams. We believe 4basebio is extremely well positioned to benefit from the substantial and growing demand for synthetic DNA and accordingly we expect to see significant growth in revenues 2026 and beyond.”
Dr Manja Boerman, Executive Chair of 4basebio, added:
“4basebio is at a pivotal point in its development. We have a fantastic team in place, strengthening the Company’s ability to take advantage of the growing demand in genetic medicine markets for enzymatic manufacturing solutions.
“I want to thank our Board and share holders for their continued support. We are excited about the opportunities ahead and look forward to continuing to leverage our innovative offering, technical expertise and commercial infrastructure to drive further market penetration.”
This announcement contains inside information for the purposes of Article 7 of the UK version of the Market Abuse Regulation (EU) No. 596/2014 (“UK MAR”), as amended and forming part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.
Investor Presentation
The Company will host a presentation for institutional investors today at 09:00am at the offices of RBC Capital Markets, 100 Bishopsgate, London EC2M 1GT. Investors who would like to attend can register their interest here.
Annual Reports and Accounts and Notice of Annual General Meeting
The Annual Report and Accounts for the year ended 31 December 2025, together with Notice of the Company’s Annual General Meeting, which is to be held on 30 June 2026 at 10:00am at the offices of 4basebio plc, are expected to be uploaded to the Company’s website and posted to shareholders shortly.
The Annual General Meeting will be followed by a presentation from the Company through the Investor Meet Company platform. Further information will be provided in due course.
For further enquiries, please contact:
| 4basebio PLC | +44 (0)12 2396 7943 |
| Dr Amy Walker, CEO | |
| Cairn Financial Advisers LLP (Nominated Adviser) | +44 (0)20 7213 0880 |
| Jo Turner / Sandy Jamieson / Ed Downes | |
| Cavendish Capital Markets Limited (Joint Broker) | +44 (0)20 7220 0500 |
| Geoff Nash / Nigel Birks | |
| RBC Capital Markets (Joint Broker) | +44 (0)20 7653 4000 |
| Kathryn Deegan / Matthew Coakes | |
| ICR Healthcare (Media and Investor Relations) | +44 (0)203 707 5700 |
| Mary-Jane Elliott / Jessica Hodgson | |
About 4basebio
4basebio (AIM: 4BB) is a Cambridge-based biotechnology company pioneering the use of synthetic DNA to enable next-generation therapeutics and vaccines. Through its proprietary enzymatic DNA synthesis platform, 4basebio produces GMP-grade synthetic DNA and mRNA with superior speed, purity, and scalability, overcoming the limitations of plasmid-based systems. The company offers application-specific DNA constructs tailored to the diverse needs of gene therapies, genome editing, mRNA production, and DNA vaccines, helping partners accelerate proof-of-concept studies and reach clinical milestones more efficiently while maintaining the highest standards of safety and quality. For more information, visit www.4basebio.com.
Joint statement from the Chief Executive Officer and Executive Chair
We are pleased to report on the year ended 31 December 2025, which represented a pivotal year for 4basebio as we continued our transformation from a research-focused organisation into a commercially driven enterprise aiming to deliver synthetic, cell-free DNA as the foundation for every genetic medicine. While the advanced therapeutics sector faced challenging market conditions that impacted timelines and funding across the industry, we delivered significant operational progress that has positioned us strongly for accelerated growth.
During 2025, we continued to enhance and further innovate our product offering to address the growing demand of innovators working across multiple modalities including viral vectors, gene editing, mRNA medicines, DNA and mRNA for vaccines. These advancements diversified our customer base to more than 125 partners. The broad customer base now spans emerging and established biotechs and large pharmaceutical organisations. To date, we have supported four Investigational New Drug (IND) applications and Clinical Trial Authorisations (CTAs) underscoring our role as a trusted partner in advancing therapeutic development.
Regulatory Milestone Achievement
In April 2025, we achieved a critical regulatory milestone by securing MIA IMP Good Manufacturing Practice (GMP) certification from the UK's Medicines and Healthcare products Regulatory Agency (MHRA). This certification authorises us to supply GMP-grade synthetic DNA for clinical programmes in advanced therapies and genetic medicines, cementing our capability to support partners throughout their entire clinical development lifecycle with premium, clinical-grade materials.
Continued Clinical Validation
The clinical and commercial validation of our platform reached a significant milestone in October when a global Tier 1 pharmaceutical partner initiated patient dosing with an mRNA product utilising our proprietary opDNA® template in a Phase I/II clinical trial. This achievement, stemming from a supply agreement established in April 2024, demonstrates the real-world impact and reliability of our technology.
Strengthening Leadership for Scale
In July 2025, we appointed Manja Boerman as Executive Chairman, a strategic addition that brings over 25 years of experience building multi-national CDMOs focused on biologics and advanced therapies. Manja's deep industry expertise and proven track record in scaling operations will be instrumental as we meet the escalating demand for our pDNA-free synthetic DNA platform.
In the second half of the year, we established a new global commercial leadership team under Christine Wolosin, a 25-year life sciences veteran with exceptional experience building go-to-market operations for manufacturing services for advanced therapies or genetic medicines. Christine was promoted to Chief Commercial Officer in March 2026, and has accelerated our North American and European expansion in Business Development and Marketing activities leading to significant pipeline growth.
Accelerating Commercial Momentum
Despite market headwinds, particularly from the US administration with regulatory concerns from FDA leadership and widespread cuts to the National Institute of Health’s budget, the Company delivered a 100% growth in DNA sales revenue. The impact of our strategic investments and new leadership additions became evident in the second half of 2025. Our new business pipeline value increased by 41% from Q3 to Q4 2025, reflecting strong market demand and the effectiveness of our enhanced commercial capabilities. This robust pipeline of pre-clinical and clinical opportunities, which has continued to expand post-period end, positions 4basebio for rapid commercial and financial growth in the years ahead.
New Chief Executive Officer and Chief Financial Officer
Post-period end in February 2026, Dr Amy Walker was appointed as Chief Executive Officer, after more than five years with the business, most recently as Chief Operating Officer. Amy played a key role in developing the IP surrounding the DNA platform and its application across the cell and gene therapy space, alongside scaling 4basebio’s GMP manufacturing capabilities, strengthening direct engagement with top-tier biopharma customers and supporting the Company’s growth operationally and strategically. Amy will lead the Company’s accelerated commercial growth strategy. Amy succeeded Dr Heikki Lanckriet, Founder of the Company, who has remained on the Board as a Non-Executive Director.
Following Amy’s transition to the role as CEO, 4basebio announced the appointment of Scott Lorimer as Chief Operating Officer. Scott brings more than 30 years’ experience in bioprocess development and scale up and clinical and commercial manufacturing of biologics and cell and gene therapies and will be responsible for scaling the Company’s innovative synthetic DNA platform as our commercial traction continues to accelerate.
Richard Bungay was appointed CFO and will join the business in July 2026. Richard is an accomplished leader with over 30 years’ senior finance and strategic experience within the pharmaceutical and biotechnology sector, leading both public and private companies from research through all clinical phases, regulatory approval and commercialisation.
Financial performance
Overcoming some of the commercial headwinds arising in 2025 and with the commercial team demonstrating significant pipeline acceleration, the Group expects continued strong revenue growth in 2026. The Group expects to remain loss-making in 2026 and will draw on its cash resources to fund those losses.
Outlook
During 2025 and at the start of 2026, 4basebio has made substantial progress, positioning the Company to capitalise on exciting opportunities ahead as next-generation genetic medicines market continues its rapid expansion. This is shown through significant progress both in revenue and the development of its customer pipeline.
Driving growth is the primary focus of the business. While the broader biotech fundraising environment and evolving US regulatory policies continue to present variable timelines for projects, the strong growth in commercial opportunities and pipeline demonstrates the rapidly growing demand for synthetic DNA whilst commercial visibility steadily improves. As a result, we anticipate continued acceleration in our pipeline and revenue though 2026 as clients continue to adopt cell-free DNA in their assets.
To support this commercial trajectory, 2026 will be a year of significant operational and product development. The Company’s confidence in its commercial success is underscored by the decision to relocate to a new innovation hub and manufacturing facility in Cambridge, UK, planned for late summer 2026, which will significantly expand our production footprint and increasing customer throughput.
Our vision is to become a worldclass manufacturer focused on delivering synthetic, cell-free DNA as the foundation for every genetic based medicine.
While we anticipate continued strategic investments in our technologies and commercial infrastructure, the Board remains highly confident that these foundational steps will yield substantial, long-term shareholder and stakeholder value. We expect that our current cash levels will provide the Group with funding into late-2027.
We would like to take this opportunity to thank our shareholders for their continued support and our dedicated team for their exceptional work in delivering this transformational year. We look forward to much progress in the years ahead.
Dr Manja Boerman Dr Amy Walker
Executive Chair Chief Executive Officer
19 May 2026 19 May 2026
Consolidated statement of profit or loss and other comprehensive income
For the year ended 31 December 2025
| [in £'000] | 2025 | 2024 |
| Revenues | 1,693 | 933 |
| Cost of goods sold | (719) | (303) |
| Gross profit | 974 | 630 |
| Administrative expenses | (17,701) | (13,866) |
| Other operating expenses | (969) | (114) |
| Other operating income | 96 | 1,308 |
| Operating result | (17,600) | (12,042) |
| Finance income | 884 | 140 |
| Finance costs | (887) | (752) |
| Loss before tax | (17,603) | (12,654) |
| Income tax credit | 698 | 321 |
| Loss for the year | (16,905) | (12,333) |
| Loss per share - basic and diluted (in £/share) | (1.09) | (0.94) |
| Items that may be reclassified subsequently to profit or loss: | ||
| Foreign exchange differences on translation of foreign operations | 316 | (313) |
| Total comprehensive loss for the year | (16,589) | (12,646) |
All of the loss for the year is from continuing operations.
Consolidated statement of financial position
As at 31 December 2025
| [in £'000] | 2025 | 2024 |
| Assets | ||
| Other intangible assets | 4,825 | 3,480 |
| Property, plant and equipment | 4,027 | 4,326 |
| Other non-current assets | 33 | 33 |
| Total non-current assets | 8,885 | 7,839 |
| Current assets | ||
| Inventory | 657 | 374 |
| Trade receivables | 289 | 283 |
| Other current assets | 1,915 | 1,627 |
| Cash and cash equivalents | 17,803 | 34,604 |
| Total current assets | 20,664 | 36,888 |
| Total assets | 29,549 | 44,727 |
| Liabilities | ||
| Trade payables | (1,052) | (1,694) |
| Lease liabilities | (130) | (41) |
| Other current liabilities | (1,607) | (1,383) |
| Other financial liabilities | (39) | (147) |
| Total current liabilities | (2,828) | (3,265) |
| Non-current liabilities | ||
| Financial liabilities | (15,645) | (14,294) |
| Lease liabilities | (691) | (734) |
| Other liabilities | (274) | (54) |
| Total non-current liabilities | (16,610) | (15,082) |
| Total liabilities | (19,438) | (18,347) |
| Net assets | 10,111 | 26,380 |
| Equity | ||
| Share capital | 13,799 | 13,772 |
| Share premium | 37,254 | 37,250 |
| Capital reserves | 14,151 | 13,864 |
| Foreign exchange reserve | (155) | (471) |
| Merger reserve | 688 | 688 |
| Accumulated losses | (55,626) | (38,723) |
| Total equity | 10,111 | 26,380 |
Consolidated statement of changes in equity
For the years ended 31 December 2025 and 31 December 2024
| [in £'000] | Share capital | Share premium | Capital reserve | FX reserve | Merger reserve | P&L reserve | Total equity |
| At 1 January 2025 | 13,772 | 37,250 | 13,864 | (471) | 688 | (38,723) | 26,380 |
| Loss for the year | - | - | - | - | - | (16,905) | (16,905) |
| FX translation differences | - | - | - | 316 | - | - | 316 |
| Shares issued in period (SIP/options) | 27 | 4 | - | - | - | - | 31 |
| Share-based payment charge | - | - | 288 | - | - | - | 288 |
| At 31 December 2025 | 13,799 | 37,254 | 14,151 | (155) | 688 | (55,628) | 10,111 |
| At 1 January 2024 | 11,132 | 706 | 13,530 | (158) | 688 | (26,390) | (492) |
| Loss for the year | - | - | - | - | - | (12,333) | (12,333) |
| FX translation differences | - | - | - | (313) | - | - | (313) |
| Shares issued in period | 2,640 | 36,544 | - | - | - | - | 39,184 |
| Share-based payment charge | - | - | 334 | - | - | - | 334 |
| At 31 December 2024 | 13,772 | 37,250 | 13,864 | (471) | 688 | (38,723) | 26,380 |
Consolidated statement of cash flows
For the year ended 31 December 2025
| [in £'000] | 2025 | 2024 |
| Cash flows from operating activities | ||
| Loss for the year | (16,905) | (12,333) |
| Adjustments for: | ||
| Tax charge | (698) | (321) |
| Tax received | 412 | 117 |
| Depreciation of property, plant and equipment | 940 | 800 |
| Amortisation of capitalised development costs and patents | 205 | 133 |
| Share-based payment charge | 288 | 334 |
| Foreign exchange adjustments | 768 | (608) |
| Other operational foreign exchange and non-cash items | 411 | (101) |
| Net finance (income)/costs | 3 | 612 |
| Changes in working capital: | ||
| (Increase)/decrease in inventories | (283) | (49) |
| (Increase)/decrease in trade receivables and other current assets | (294) | (76) |
| Increase/(decrease) in trade payables and other current liabilities | (437) | 748 |
| Net cash flow from operating activities | (15,588) | (10,744) |
| Cash flows from investing activities | ||
| Investments in property, plant and equipment | (458) | (697) |
| Investments in capitalised development and intangible assets | (1,181) | (874) |
| Interest received | 909 | 72 |
| Net cash flow from investing activities | (730) | (1,499) |
| Cash flows from financing activities | ||
| Proceeds from issue of equity (net of expenses) | - | 38,484 |
| Proceeds from exercise of share options | 31 | 700 |
| Drawdowns under loan facility | - | 8,800 |
| Repayments under loan facility | (274) | (3,988) |
| Lease liability repayments (IFRS 16) | (126) | (115) |
| Interest paid | (72) | (86) |
| Net cash flow from financing activities | (441) | 43,795 |
| Net (decrease)/increase in cash and cash equivalents | (16,759) | 31,552 |
| Foreign exchange differences | (42) | (17) |
| Cash and cash equivalents at 1 January | 34,604 | 3,069 |
| Cash and cash equivalents at 31 December | 17,803 | 34,604 |
Notes to the financial statements
1. General
4basebio PLC (the “Company” or “4basebio”) is registered in England and Wales with company number 13519889. The Company is domiciled in England and the registered office of the Company is 25 Norman Way, Over, Cambridge CB24 5QE. 4basebio PLC is the parent of a group of companies (together, “the Group”). The Group focuses on life sciences, in particular the development of synthetic DNA and nanoparticles suitable for inclusion in, or delivery of, therapeutic payloads for gene therapies and gene vaccines.
The Company trades on London Stock Exchange’s AIM market. The international securities number (ISIN) for its AIM-traded shares is GB00BMCLYF79; its ticker symbol is 4BB.L.
The consolidated financial statements of 4basebio PLC and its subsidiaries for the year ended 31 December 2025 were authorised for issue in accordance with a resolution of the Directors on 19 May 2026.
2. Basis of preparation
The consolidated financial statements of 4basebio PLC (“the Group”) for the financial year ended 31 December 2025 have been prepared in accordance with UK-adopted International Accounting Standards in conformity with the requirements of the Companies Act 2006.
The consolidated financial statements comprise the results of 4basebio PLC, 4basebio S.L.U., 4basebio UK Limited, 4basebio Discovery Limited and 4basebio Inc. (incorporated 7 April 2025) for the whole year (or, in the case of 4basebio Inc., from the date of incorporation).
The above summary has been extracted from the report and financial statements and, accordingly, references to notes and page numbers may be incorrect. Shareholders are advised to read the full version of the report and financial statements which will be available from the Company’s website shortly.
3. Earnings per share
| 2025 | 2024 | |
| Numerator [in £'000] | ||
| Loss for the period | (16,905) | (12,333) |
| Denominator [number of shares] | ||
| Weighted average number of registered shares | 15,507,339 | 13,116,570 |
| Basic and diluted loss per share (£) | (1.09) | (0.94) |
The calculation of the basic and diluted loss per share for continuing operations was based on the weighted average number of shares as determined above. The numerator is the loss after tax from continuing operations. Outstanding share options have not been included in the calculation of the diluted loss per share because they would be anti-dilutive since the business is loss making.
4. Approval of the financial statements
The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2026.
