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4basebio announces spin-off of its DNA business
HEIDELBERG, Germany & CAMBRIDGE, U.K.—Following a strategic review, 4basebio AG (formerly Expedeon AG) 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 United Kingdom and be listed on the Alternative Investment Market (AIM), a submarket of the London Stock Exchange market.
As part of this, 4basebio is considering retaining a significant minority stake in the new entity and distributing the remaining shares to its existing shareholders.
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 organization.
The intention is to complete this process by the end of 2020.