Fusion Antibodies PLC Collaboration with Eurofins Discovery
August 24 2021 - 2:00AM
RNS Non-Regulatory
TIDMFAB
Fusion Antibodies PLC
24 August 2021
Reach - non regulatory announcement
Fusion Antibodies plc
("Fusion" or the "Company")
Collaboration with Eurofins Discovery
Fusion Antibodies plc (AIM: FAB), a specialist in the
pre-clinical antibody discovery, engineering and supply for both
therapeutic drug and diagnostic applications, announces that is has
entered into a commercial collaboration agreement (the
"Collaboration") with Eurofins Discovery ("Eurofins"), a leading
provider of products and services to the drug discovery industry.
Eurofins is a Eurofins Scientific SE (EUFI.PA) group company.
Pursuant to the Collaboration, Fusion will provide comprehensive
pre-clinical antibody development services from discovery,
engineering, and critical reagent supply to Eurofins and onwards to
their customers.
The Collaboration is not expected to have a material impact on
the Company's earnings in the current financial year, however, the
Directors of Fusion consider that it demonstrates a commitment by
both parties to provide world-class scientific expertise,
next-generation technology, and guidance to accelerate the delivery
of the best possible antibody against a broad range of targets and
therapeutic areas into the clinic for both parties.
As leading global innovation-driven and customer-focused
providers of antibody development services, Fusion Antibodies and
Eurofins Discovery share common values in the culture of
collaboration and the pursuit of scientific excellence.
Richard Jones, CEO of Fusion Antibodies commented: " We're
delighted to enter into this commercial collaboration with Eurofins
which leverages the respective expertise of both partners,
delivering on both our strategic objectives as well as providing a
full client service package."
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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