Half-year Report

Press Release                                                      

4basebio PLC
("4basebio", the "Company" or the “Group”)

Half-year Report
for the six months ended 30 June 2026

Cambridge, UK, 28 September 2026 – 4basebio PLC (AIM: 4BB), a specialist in synthetic DNA manufacturing for next-generation genomic medicines and advanced therapies, announces its unaudited half-year results for the six months ended 30 June 2026 (“H1 2026”). 

Operational and Commercial Highlights (including post period end)

• New leadership team driving the Group's next phase of growth
• Qualified new business pipeline of £63 million, up six-fold since Q3 2025, reflecting strong momentum in the business and the impact of new commercial team; pipeline demonstrates substantial demand and underpins future growth in 2027 and beyond
• Secured clinical supply agreement to support Phase 2 clinical trial reflects increased adoption of synthetic DNA for clinical stage assets
• Signed a strategic collaboration and marketing agreement with Genezen, a best-in-class viral vector CDMO; 4basebio selected as partner for excellent quality, reliability and safety
• Commercial launch of innovative new offerings including single-stranded DNA (ssDNA) platform, and expanded NDA offering to enable high capacity, fast turnaround time DNA for personalised cancer vaccines (PCV)
• Announced today, extension of existing relationship with Tier 1 pharmaceutical customer to include new modality, supporting its Phase 1 cell therapy programme with HQ opNDA (see separate announcement)

Financial Highlights

• Sales orders for H1 2026 of £1.2 million, a 210% increase compared to H1 2025 sales orders (£0.4 million)
• Revenue for H1 2026 of £0.3 million (H1 2025: £1.2 million), reflecting project delays due to general market headwinds that are now starting to ease, and a strong prior year comparator where revenues were derived from a single large clinical pharma contract
• Cash balances of £14.1 million at period end (31 December 2025: £17.8 million) following €7 million drawdown under the 2Invest AG loan facility, providing a cash runway into late 2027
• Loss for the period of £8.9 million (H1 2025 loss: £7.8 million) reflecting strategic investments in technology, manufacturing and commercial capability and deferrals of project revenues into H2 2026 and 2027
• Net cash outflow from operating activities of £8.4 million (H1 2025: £8.2 million)

Outlook

• Substantial and growing pipeline coupled with sizeable market opportunity for synthetic DNA underpins the Group’s expected future growth
• Sales orders executed to the date of this report of £1.4 million (including previously announced Phase II clinical supply agreement and today’s announced extended relationship with a Tier 1 pharma) provide visibility over revenue of £1.2 million to be recognised over the next 12 months
• HQ and GMP orders in late-stage contracting along with multiple well-progressed HQ and GMP opportunities expected to significantly increase revenue recognition in H2 2026 and 2027
• With significant anticipated revenue growth and expected reduction in operating expenses following a period of strategic investment, the Group expects net cash outflows from operations to reduce in H2 2026 and also into 2027

Commenting on the interim results, Dr Amy Walker, CEO, said “Following our investment into operational and commercial infrastructure in 2025, H1 2026 was a period of strong commercial momentum which positions us well to deliver future growth. I strongly believe that our differentiated technology and strengthened commercial capability will allow us to benefit from the expected growth in advanced therapies. Our enhanced commercial capabilities and team are reflected by a six-fold growth in our qualified pipeline and we enter H2 2026 with greatly enhanced visibility over future revenues.

We continue to receive consistently excellent feedback on our technology from our diversified customer base spanning biotech, pharma and CDMO across multiple modalities, and are encouraged by the continued adoption of our technology for clinical stage assets following our MHRA GMP certification, including a Phase 2 clinical trial. The long-term outlook for the synthetic DNA market and 4basebio remains exciting as clients increasingly pivot to a safer, quicker and high performance DNA source. We look forward to driving further commercial momentum with partners and clients through the remainder of 2026 and into 2027.”

For further enquiries, please contact:

4basebio PLC	[phone]
Dr. Amy Walker, CEO
Cairn Financial Advisers LLP (Nominated Adviser)	[phone]
Jo Turner / Sandy Jamieson / Ed Downes
Cavendish Capital Markets Limited (Joint Broker)	[phone]
Geoff Nash / Andrea Callaghan / Nigel Birks
RBC Capital Markets (Joint Broker)	[phone]
Kathryn Deegan / Sandrine Cailleteau
ICR Healthcare (Media and Investor Relations)
Jessica Hodgson / Ashley Tapp / Phillip Marriage	[phone]

Notes to Editors

4basebio (AIM: 4BB) is an innovation driven life biotechnology company focused on accelerating the development of advanced therapy medicinal products (ATMPs) through its high-performance synthetic DNA products and non-viral, cell targeting nucleic acid delivery platform. The Company’s objective is to become a market leader in the manufacture and supply of high-quality synthetic DNA products for research, therapeutic and pharmacological use as well as development of target specific non-viral vectors for the efficient delivery of payloads in patients.

Chairwoman’s Statement

Introduction

The Board is pleased to report continued strong commercial and operational progress during the first half of 2026, defined by growth in the cadence of commercial pipeline and resultant sales orders. Revenue recognised in the period was lower than anticipated, reflecting project delays due to commercial headwinds seen in 2025. However, sales order growth and excellent pipeline momentum, driven by the Group’s expanded commercial operations and continued expansion of the Group’s technology platforms, underpins confidence in a strong outlook.

Operational Review

Over the first half of the year, the Group has focused on building a strong pipeline of commercial activities, both by further broadening its client base as well as securing repeat business from its existing customers. The Group is now actively targeting clinical-stage opportunities alongside preclinical programmes, which has historically been the entry point for new customer relationships. Whilst the Group continues to develop its technology platform, the focus of its R&D efforts has now shifted to process and yield improvements, alongside accelerated turnaround times, which are expected to significantly improve future product margins and delivery.

Commercial pipeline

Following the recruitment of the Group's new commercial team during H2 2025, an in-depth market assessment was completed. Building on these findings, a strategic go-to-market plan was implemented to drive awareness and to identify and qualify new commercial opportunities.

As a result of this work, the Group's qualified commercial pipeline has grown six-fold and as at 30 June 2026 was £63 million, of which approximately 95% relates to HQ and GMP opportunities, reflecting accelerated adoption of 4basebio DNA in clinical applications.  The broad and growing pipeline underpins the Group’s expected revenue growth in H2 2026 and 2027. Client numbers have also increased to 134 in the period, with 28 new programmes signed in 2026 to date.

The Group is working with a number of clients who are assessing a switch from plasmid to synthetic DNA for their clinical-stage programmes. During H1 2026 the Group was pleased to enter into a clinical supply agreement with a leading cancer immunotherapy innovator for their latest Phase 2 clinical study. The Group was also pleased to extend its relationship with an existing Tier 1 pharmaceutical client to support its cell therapy Phase 1 study, after the end of the period.

The Group is aiming to maximise its reach to potential customers through strategic marketing arrangements with contract development and manufacturing organisations (CDMOs). These arrangements not only provide a strong validation of its technology platform, but also expand the number of pipeline opportunities available, and simplify and shorten the customer onboarding process. The Group was pleased to announce its first such partnership with a best-in-class viral vector CDMO, Genezen, post-period end, with an increasing interest seen in the use of synthetic DNA for viral vector applications, including AAV and lentivirus, with strong growth predicted for this market segment.

The Group is also expanding both its commercial and manufacturing efforts to develop a risk-managed portfolio of opportunities. The Group’s focus in mRNA has expanded to gene editing and cancer immunotherapy programmes, alongside its established efforts in infectious disease mRNA-based vaccines. Cancer immunotherapy programs have continued to benefit from positive clinical outcomes and strong investor support, highlighted by the first positive Phase 3 trial for an individualised mRNA cancer vaccine announced after the period end. An expansion of the Group’s DNA offering means it is well positioned to support faster and more reliable delivery of the high-purity synthetic DNA required for personalised cancer vaccine (PCV) approaches which require shortened manufacturing turnaround times, small patient-specific batch sizes and rapid batch release. 

Sales orders

Contracts won in H1 2026 totalled £1.2 million, providing visibility over future revenues of approximately £1.0m to be recognised in the next 12 months. Revenue recognised is expected to increase significantly as further HQ and GMP orders are secured.

The trading environment in H1 2026 was impacted by the wider slowdown seen in the CDMO sector throughout 2025, along with headwinds arising from policy changes in the US leading to delays in customer projects. In addition, continued constraints in the funding environment for the Group's biotech customers has lengthened the time taken to commit to new development programmes. The Board believes these are cyclical, sector-wide pressures that are starting to lessen and that the Group’s outlook continues to be supported by rising awareness of synthetic DNA, increased outsourcing penetration, increasing sector focus on advanced therapy modalities, and the significant expansion of a risk-managed pipeline of opportunities as highlighted above. Based on visibility offered by the growing pipeline, the Group expects to deliver significant revenue growth in H2 2026 and 2027.

Revenues

Revenue recognised for the first half of 2026 was £0.3 million (H1 2025: £1.2 million). Revenue recognised in the period was impacted by the trailing impact of 2025 headwinds alongside delays in customers closing sales orders as highlighted above. Revenue in H1 2025 primarily derived from a single large clinical contract that was secured in 2024. In light of sales orders closed in H1 2026 and the growing commercial pipeline, the Group expects a return to significant revenue growth in H2 2026 and 2027.

Operating cost base

The Group has managed its cost base carefully throughout H1 2026 and will continue to do so as the new leadership team focuses on driving further commercial progress and sustained revenue growth. The Group now has an appropriately sized operational cost base and is well positioned to leverage its mature technology platform deliver against its materially expanded pipeline, supporting its ambitious growth aspirations.

Executive Leadership Team

The Board is pleased to have appointed Dr Amy Walker as CEO after more than five years with the business, most recently as Chief Operating Officer. Amy played a key role in developing the intellectual property 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 Group’s growth operationally and strategically.

Scott Lorimer was appointed as Chief Operating Officer in H1 2026, bringing 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 Group’s innovative synthetic DNA platform as its commercial traction continues to accelerate..

The appointment of Richard Bungay as CFO completes the build out of the Executive Leadership Team. 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 Review

The results for the period ended 30 June 2026 and the consolidated balance sheet at that date reflect the consolidated performance and position of 4basebio PLC and all its subsidiary companies. Exchange differences for the period represent changes in the British pound value of cash balances held in foreign currency.

Revenue

The timing of revenue recognition is dependent on the mutually agreed scheduling of customer projects. Revenue in H1 2026 was £0.3 million (H1 2025: £1.2 million).

Cost of sales

Cost of sales in H1 2026 was £0.2 million (H1 2025: £0.5 million), relating to the direct cost of products sold in the period and the amortisation of intangible assets. Normalised gross margin prior to the non-cash IFRS adjustment for amortisation of intangible assets was 72% of revenue for H1 2026 (H1 2025: 64% of revenue). As highlighted above, the Group continues to invest in initiatives to improve gross margins.

Administration expenses

Administrative expenses amounted to £9.0 million in H1 2026 (H1 2025: £8.9 million), including non-cash items relating to amortisation and depreciation of £0.6 million (H1 2025: £0.6 million) and share options charges of £0.2 million (H1 2025: £0.2 million).

As highlighted above, the Group continues to carefully manage its cost base with ongoing investment into its sales and marketing team in H1 2026 partially offset by the completion of prior investments made to support the GMP licence and other growth initiatives.

Finance income and costs

Finance income of £0.2 million for H1 2026 (H1 2025: £0.6 million) reflected the lower average balances of cash and cash equivalents compared to the prior period. Finance costs of £0.5 million (H1 2025: £0.4 million) primarily comprises accrued interest on the 2Invest AG loan facility, with the increase reflecting the additional drawdown during H1 2026 outlined below.

Tax

Tax represents R&D tax credits expected to be recovered in due course in relation to expenditure during the first half of the year.

Balance sheet

Non-current assets increased to £9.9 million at 30 June 2026 (30 June 2025: £8.9 million), with the increase primarily driven by fit out of the Group’s new facility at Saxon Way. 

Current assets fell to £17.2 million at 30 June 2026 from £20.7 million at 31 December 2025, primarily due to cash outflows during H1 2026, partially offset by the drawdown of an additional €7 million (£6.0 million) from the 2Invest AG loan facility during the period.  Closing cash balances at 30 June 2026 stood at £14.1 million (31 December 2025: £17.8 million).

The increase in long term financial liabilities reflects the further drawdown on the 2Invest AG loan facility during the period, with the non-current portion of the loan increasing to £22.3 million as at 30 June 2026 (31 December 2025: £15.6 million).

Cash flow
Net cash outflows from operations were £8.4 million for the period ended 30 June 2026 (period ended 30 June 2025: outflows of £8.2 million), with the increase reflecting strategic investments in technology, manufacturing and commercial capability that the Group initiated in 2025 and continued through H1 2026.

With expected future increase in revenues and stabilisation of operating costs noted above, the Group expects net cash outflows from operations to reduce for H2 2026 and into 2027.

Cash outflows from investing activities were £1.3 million for the period ended 30 June 2026 (period ended 30 June 2025: outflows of £0.1 million), with the key driver being the increase in the investment in tangible fixed assets to £1.1 million (period ended 30 June 2025: £0.3 million), primarily relating to the fit out of the new facility at Saxon Way. Intangible assets investment (including capitalised development expenditure) represented a cash outflow of £0.4 million (H1 2025: £0.3 million).

Cashflows from financing for the period ended 30 June 2026 primarily reflect the drawdown of €7 million from the 2Invest AG loan facility, partially offset by repayments of Spanish soft loans, with a net inflow for the period of £5.9 million (H1 2025: net outflow of £0.3 million).

The draw down of the 2Invest AG loan during H1 2026 has strengthened the Group’s financial position and ensures it remains resourced to deliver on its ambitions and commercial targets. The Group closed the period with a cash position of £14.1 million. Based upon current projections, this provides cash runway into H2 2027. The Group continues to assess opportunities to strengthen its financial position in order to support its long-term growth aspirations.

2026 expectations

Whilst the growth prospects for 4basebio remain excellent and the Group expects a strong H2 2026, the slow start to the year is expected result in full year revenues being lower than those achieved in 2025.

Outlook

4basebio commands a unique position in a market that is rapidly growing as synthetic DNA takes increasing share from the estimated $2.4bn global plasmid market. Through its enzymatically-produced DNA technology, the Group enables clinical and commercial biomanufacturing for advanced therapies, empowering safer, faster, and more cost-effective treatments to improve outcomes for patients worldwide; and meeting demand for high-quality, regulatory-compliant DNA in gene therapies, mRNA vaccines, and cell-based therapies, where safety and consistency are critical.

Under new leadership, the Board is confident in the Group’s ability to deliver on the significant and growing market opportunity. The Board is pleased with the continued commercial progress during the first half of 2026 and remains confident in the Group’s underlying progress and the future prospects.

In the second half of 2026, the Group expects to further grow its pipeline, client base and revenues from the sale of DNA, whilst stringently managing its operating cost base and undertaking initiatives to reduce the speed of delivery for its synthetic DNA products and improve product margins. The Group remains well positioned to execute on its strategy, and expects to deliver significant revenue growth in H2 2026 and into 2027.

Manja Boerman
Chairwoman
25 September 2026

Consolidated statement of profit and loss and other comprehensive income
for the six months ended 30 June 2026

in £‘000	Note	Six months ended 30 June 2026 (unaudited)	Six months ended 30 June 2025 (unaudited)	Year ended 31 December 2025 (audited)
Revenues		262	1,174	1,693
Cost of goods sold (excluding amortisation)		(73)	(418)	(594)
Normalised gross profit		189	756	1,099
Amortisation		(95)	(55)	(125)
Adjusted gross profit		94	701	974
Administrative expenses		(9.037)	(8,932)	(17,701)
Other operating expenses		-	(136)	(969)
Other operating income		72	29	96
Operating result		(8,871)	(8,338)	(17,600)
Finance income		162	532	884
Finance costs		(485)	(416)	(887)
Loss before tax		(9,194)	(8,222)	(17,603)
Income tax credit	4	270	418	698
Loss for the period		(8,924)	(7,804)	(16,905)
Loss per share
Basic and diluted (in £/share)	5	(0.57)	(0.50)	(1.09)
Items that may be reclassified subsequently to profit or loss:
Foreign exchange differences on translation of foreign operations		(72)	197	316
Total comprehensive loss for the period		(8,996)	(7,607)	(16,589)

All of the loss for each period is from continuing operations.

Consolidated statement of financial position
  for the six months ended 30 June 2026

in £’000	Note	30 June 2026 (unaudited)	31 December 2025 (audited)
Assets
Intangible assets	6	4,973	4,825
Property, plant and equipment	7	4,660	4,027
Other non-current assets		242	33
Total non-current assets		9,875	8,885
Current assets
Inventory		775	657
Trade receivables		845	289
Other current assets		1,569	1,915
Cash and cash equivalents	8	14,052	17,803
Total current assets		17,241	20,664
Total assets		27,116	29,549
Liabilities
Trade payables		(685)	(1,052)
Lease liabilities		(112)	(130)
Other current liabilities		(2,048)	(1,607)
Other financial liabilities		(36)	(39)
Total current liabilities		(2,881)	(2,828)
Non-current liabilities
Financial liabilities		(22,310)	(15,645)
Lease liabilities		(645)	(691)
Other liabilities		(9)	(274)
Total non-current liabilities		(22,964)	(16,610)
Total liabilities		(25,845)	(19,438)
Net assets		1,271	10,111
Equity
Share capital		13,799	13,799
Share premium		37,254	37,254
Capital reserves		14,307	14,151
Foreign exchange reserve		(227)	(155)
Merger reserve		688	688
Accumulated losses		(64,550)	(55,626)
Total equity	9	1,271	10,111

Consolidated statement of changes in equity
for the six months ended 30 June 2026

in £‘000	Share capital	Share premium	Merger reserve	Capital reserves	Foreign exchange reserve	Accumulated losses	Total equity
Balance at 1 January 2025 (audited)	13,772	37,250	688	13,864	(471)	(38,721)	26,382
Loss for the year	-	-	-	-	-	(16,905)	(16,905)
Shares issued in period	27	4	-	-	-	-	31
Foreign exchange translation differences	-	-	-	-	316	-	316
Share-based payment charge	-	-	-	288	-	-	288
Balance at 31 December 2025 (audited)	13,799	37,254	688	14,151	(155)	(55,626)	10,111
in £‘000	Share capital	Share premium	Merger reserve	Capital reserve	Foreign exchange reserve	Profit and loss reserve	Total equity
Balance at 1 January 2026 (audited)	13,799	37,254	688	14,151	(155)	(55,626)	10,111
Loss for the period	-	-	-	-	-	(8,924)	(8,924)
Shares issued in period	-	-	-	-	-	-	-
Foreign exchange translation differences	-		-	-	(72)	-	(72)
Share-based payment charge	-	-	-	156	-	-	156
Balance at 30 June 2026 (unaudited)	13,799	37,254	688	14,307	(227)	(64,550)	1,271

Consolidated statement of cash flows
  for the six months ended 30 June 2026

in £’000	30 June 2026 (unaudited)	30 June 2025 (unaudited)	31 December 2025 (audited)
Cash flows from operating activities
Loss for the period	(8,924)	(7,804)	(16,905)
Adjustments for:
Tax charge	(271)	(418)	(698)
Tax received	492	324	412
Depreciation of property, plant and equipment	445	469	940
Amortisation of capitalised development costs and patents	126	106	205
Share-based payment charge	155	195	288
Foreign exchange adjustments	-	-	768
Other operational foreign exchange and non-cash items	(36)	-	411
Net finance (income)/costs	279	(165)	3
Changes in working capital:
(Increase)/decrease in inventories	(123)	(150)	(283)
(Increase)/decrease in trade receivables and other current assets	(400)	296	(294)
Increase/(decrease) in trade payables and other current liabilities	(155)	(1,015)	(437)
Net cash flow from operating activities	(8,412)	(8,162)	(15,588)
Cash flows from investing activities
Investments in property, plant and equipment	(1,077)	(322)	(470)
Investments in capitalised development and intangible assets	(371)	(320)	(1,169)
Interest received	162	556	909
Net cash flow from investing activities	(1,286)	(86)	(730)
Cash flows from financing activities
Proceeds from issue of equity (net of expenses)	-	-	-
Proceeds from exercise of share options	-	16	31
Drawdowns under loan facility	6,037	-	-
Repayments under loan facility	(43)	(227)	(274)
Lease liability repayments (IFRS 16)	(63)	(58)	(126)
Interest paid	-	(35)	(72)
Cash flows from financing activities	5,931	(304)	(441)
Net (decrease)/increase in cash and cash equivalents	(3,767)	(8,552)	(16,759)
Foreign exchange differences	16	62	(42)
Cash and cash equivalents at the beginning of the period	17,803	34,604	34,604
Cash and cash equivalents at the end of the period	14,052	26,114	17,803

Notes to the financial statements
For the six months ended 30 June 2026

1. General information

4basebio PLC (the “Company” or “4basebio”) is registered in England and Wales with the company number 13519889.

The Company is domiciled in England and the registered office is 25 Norman Way, Over, Cambridge CB24 5QE. 4basebio PLC is the parent of a group of companies (together, “the Group”). The Group focusses on life sciences and in particular the development of synthetic DNA and nanoparticles suitable for inclusion in, or delivery of, therapeutic payloads for cell and gene therapies and vaccines.

The Company’s shares are traded on London Stock Exchange’s AIM market. The international securities number (ISIN) number for its AIM traded shares is GB00BLD8ZL39; its ticker symbol is 4bb.l.

The interim report was approved by the Board of directors on 25 September 2026.

2. Significant accounting policies

Basis of preparation

This half year report, which is not audited, has been prepared in accordance with the measurement and recognition criteria of UK adopted International Accounting Standards. It does not include all the information required for full annual financial statements and should be read in conjunction with the financial statements of the Company and the Group for the year ended 31 December 2025.

The accounting policies applied in this half year report are consistent with those in the financial statements for the year ended 31 December 2025, as described in those financial statements.

Significant judgments

In the application of the Group’s accounting policies, management is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The significant judgments made in relation to the financial statements are further set out below.

Going concern

The directors have at the time of approving the half year report a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Internally-generated intangible assets – research and development expenditure

Development expenditure is capitalised when the conditions referred to in Note 4 of the Company's 2025 annual report are met. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

3. Foreign currencies

The functional currency of the Group is British Pounds.

The principal currency rate of the Group other than the British Pounds is the euro which has developed as follows in relation to the equivalent of one pound (GBP/£):

in GBP	Closing exchange rate			Average exchange rate
	30 June 2026	31 December 2025			Six months ended 30 June 2026	Six months ended 30 June 2025	Year ended 31 December 2025
Euro	0.8618	0.8726			0.8672	0.8423	0.8568
US Dollar	0.7545	0.7439			0.7437	0.7716	0.7591

4. Income taxes

The Group anticipates claiming R&D tax credits in both the UK and Spain in relation to the year ended 31 December 2026. The quantum of such claims for the first half of 2026 is estimated at £270k (period ending 30 June 2025: £418k).

5. Loss per share

	Six months ended 30 June 2026	Six months ended 30 June 2025	Year ended 31 December 2025
Loss for the period attributable to owners (£’000)	(8,924)	(7,804)	(16,905)
Weighted average number of shares in issue	15,538,518	15,488,101	15,511,813
Closing number of shares in issue	15,538,518	15,509,393	15,538,518
Loss per share - basic and diluted (£)	(0.57)	(0.50)	(1.09)

6. Intangible assets

in £‘000	Development costs	Patents and licences	Total
Cost or acquisition value
1 January 2025	3,731	1,238	4,969
Additions	211	1,528	1,739
Exchange differences	(162)‌‌	(12‌)	(174)
31 December 2025	3,780	2,574	6,534
1 January 2026	3,780	2,754	6.534
Additions	88	409	497
Exchange differences	(51)	(20)	(71)
30 June 2026	3,817	3,143	6,960
Cumulative amortisation and impairment
1 January 2025	1,328	161	1,489
Amortisation	111	94	205
Exchange differences	80‌‌	(65)	15
31 December 2025	1,519	190	1,709
1 January 2026	1,519	190	1,709
Amortisation	242	64	306
Exchange differences	(25)	(3)	(28)
30 June 2026	1,736	251	1.987
Net book value
31 December 2025	2,261	2,564	4,825
30 June 2026	2,081	2,892	4,973

7. Property, plant and equipment

in £‘000	Operating equipment	Land and buildings	Right of use assets	Total
Cost or acquisition value
1 January 2025	4,581	1,040	865	6,486
Additions	522	-	-	522
Disposals	(18)	-	-	(18)
Exchange differences	(9)	-	136	127
31 December 2025	5,076	1,040	1,001	7,117
1 January 2026	5,076	1,040	1,001	7,117
Additions	1,014	-	-	1,014
Disposals	(1)	-	-	(1)
Exchange differences	(6)	-	-	(6)
30 June 2026	6,083	1,040	1,001	8,124
Cumulative amortisation and impairment
1 January 2025	1,761	234	165	2,160
Depreciation	778	47	115	940
Disposals	(4)	-	-	(4)
Exchange differences	-	(1)	(5)	(6)
31 December 2025	2,535	280	275	3,090
1 January 2026	2,535	280	275	3,090
Depreciation	287	23	69	379
Disposals	(1)	-	-	(1)
Exchange differences	(12)	-	50	38
30 June 2026	2,809	303	394	3,506
Net book value
31 December 2025	2,541	760	726	4,027
30 June 2026	3,274	737	609	4,619

8. Cash and cash equivalents

in £‘000	30 June 2026	31 December 2025
Bank balances and cash in hand	14,052	17,803
Cash and cash equivalents	14,052	17,803

9. Equity

The share capital of 4basebio PLC as of 30 June 2026 amounts to a total of €15,538,518 divided into 15,538,518 shares of €1 (31 December 2025: 15,538,518 shares of €1), converted into British Pounds at the historic rates at the dates of share issue. These are all registered ordinary shares. There are no shares with special rights or other restrictions on voting rights.

Share-based payments

An overall share-based payments charge of £155k (H1 2025: £195k) has been expensed in the period with a corresponding amount recognised in equity based on fair values calculated per option, as at the dates of grant. 

10. Legal matters

As disclosed in Note 29 of the 2025 financial statements, 4basebio S.L.U., the Company’s Spanish subsidiary, is engaged in legal proceedings in Spanish Courts with Tyris Tx.  The matter remains ongoing.

11. Approval of the half year report

The half year report was approved by the Board of directors and authorised for publication on 25 September 2026.
 

Forward-looking statements

This announcement may contain certain statements about the future outlook for the 4basebio.  Although the directors believe their expectations are based on reasonable assumptions, any statements about future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.

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