Fusion Antibodies PLC Holding(s) in Company (8599B)
June 15 2021 - 2:00AM
UK Regulatory
TIDMFAB
RNS Number : 8599B
Fusion Antibodies PLC
15 June 2021
Fusion Antibodies plc
("Fusion" or the "Company")
Holdings in Company
Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical
antibody discovery, engineering and supply for both therapeutic
drug and diagnostic applications, has been informed by Crescent
Capital NI Limited ("Crescent Capital") that Crescent Capital II LP
("Crescent II") has distributed in specie all of its holdings in
Fusion to its underlying investors due to the fund reaching the end
of its intended lifespan. The distribution was implemented on 11
June 2021 with an effective date of 5 June 2021. As a result, the
2,223,415 ordinary shares of 4p each in Fusion Antibodies
("Ordinary Shares") previously held by Crescent II have all been
transferred to Invest Northern Ireland and Crescent II no longer
holds any Ordinary Shares. Crescent Capital III LP ("Crescent III")
still holds 613,382 Ordinary Shares, equivalent to 2.38% of the
Company's issued share capital. Colin Walsh, Non-Executive Director
of Fusion, is Chief Executive and founder of Crescent Capital,
which is the fund manager for Crescent II and Crescent III.
As a result of the share transfer detailed above, Invest
Northern Ireland now directly holds 3,197,865 Ordinary Shares,
equivalent to 12.39% of the Company's issued share capital. In
addition, Invest Northern Ireland is also indirectly interested in
the 613,382 Ordinary Shares held by Crescent III and 358,850
Ordinary Shares held by Nitech Growth Fund LP.
Enquiries:
Fusion Antibodies plc www.fusionantibodies.com
Richard Jones, Chief Executive Officer Via Walbrook PR
James Fair, Chief Financial Officer
Allenby Capital Limited Tel: +44 (0)20 3328
5656
James Reeve (Corporate Finance)
Tony Quirke (Sales and Corporate Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or fusion@walbrookpr.com
Anna Dunphy Mob: +44 (0)7876 741
001
Paul McManus Mob: +44 (0)7980 541
893
About Fusion Antibodies plc
Fusion is a Belfast based contract research organisation ("CRO")
providing a range of antibody engineering services for the
development of antibodies for both therapeutic drug and diagnostic
applications.
The Company's ordinary shares were admitted to trading on AIM on
18 December 2017. Fusion provides a broad range of services in
antibody generation, development, production, characterisation and
optimisation. These services include antigen expression, antibody
production, purification and sequencing, antibody humanisation
using Fusion's proprietary CDRx (TM) platform and the production of
antibody generating stable cell lines to provide material for use
in clinical trials. Since 2012, the Company has successfully
sequenced and expressed over 250 antibodies and successfully
completed over 200 humanisation projects and has an international,
blue-chip client base, which has included eight of the top 10
global pharmaceutical companies by revenue.
The Company was established in 2001 as a spin out from Queen's
University Belfast. The Company's mission is to enable
pharmaceutical and diagnostic companies to develop innovative
products in a timely and cost-effective manner for the benefit of
the global healthcare industry. Fusion Antibodies provides a broad
range of services in antibody generation, development, production,
characterisation and optimisation.
Fusion Antibodies growth strategy is based on combining the
latest technological advances with cutting edge science to deliver
new platforms that will enable Pharma and Biotech companies get to
the clinic faster, with the optimal drug candidate and ultimately
speed up the drug development process.
The global monoclonal antibody therapeutics market was valued at
$135.4 billion in 2018 and is forecast to surpass $212.6 billion in
2022, an increase at a CAGR of 12.0 per cent. for the period 2018
to 2022. In 2017, seven of the world's ten top selling drugs were
antibody-based therapeutics with the combined annual sales of these
drugs exceeding $63.2 billion.
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