4BB: Experienced CFO announced

Research evidence excerpt

4BB: Experienced CFO announced

EQUITY RESEARCH QUICK TAKE

RBC Europe Limited

Charles Weston, CFA (Analyst)

May 14, 2026

4basebio PLC

Experienced CFO announced

LSE: 4BB | GBp 435.00 | Outperform | Price Target GBp 1,600

Sentiment: Positive

Our view: 4basebio has appointed Richard Bungay as CFO, effective July 2026, as the company enters what we expect to be a

phase of accelerated commercial growth. Mr. Bungay is a very experienced executive, a well-known name in the UK healthcare

space, and his appointment serves to derisk the investment proposition, in our view.

• CEO Amy Walker described the appointment as completing the senior leadership team following the prior additions of Chrissy

Wolosin (Chief Commercial Officer, September 2025), Dr Manja Boerman (Executive Chair, July 2025), and Scott Lorimer (COO,

March 2026).

• We continue to expect a financing round for 4basebio in order to fund its growth plans, which we expect to be laid out in an

investor seminar on 20 May.

Mr Bungay is an experienced hire. Following qualification with Deloitte, Mr Bungay joined Celltech, the large UK biotech, and

then AstraZeneca, both within finance functions, before rejoining Celltech as Director of Corporate Communications and Strategic

Planning. Since then, he has held CFO positions across multiple companies, including some stints as CEO, and serves on multiple

boards. These include Chroma Therapeutics, Verona, Mereo, Glide, Diurnal, Cambridge Cognition and Sitala. He has presided over

two successful trade exits and over $400m in fund-raising, as well as outlicensing deals.

• Prior CFO David Roth's departure was announced in February 2026, as he transitions alongside founder Dr Heikki Lanckriet to

build out 4basebio's Hermes nanoparticle system in a new entity.