Fusion Antibodies PLC AGM Statement (8123M)
September 24 2021 - 1:59AM
UK Regulatory
TIDMFAB
RNS Number : 8123M
Fusion Antibodies PLC
24 September 2021
Fusion Antibodies plc
("Fusion" or the "Company")
AGM statement
Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical
antibody discovery, engineering and supply for both therapeutic
drug and diagnostic applications, announces that at the AGM due to
be held at 11am today, the following statement from Simon Douglas,
the Chair of Fusion Antibodies, will be read:
"During the current financial period, revenue growth has been
consistent compared to the previous financial period and in line
with our expectations. Customer enquiries for all of the Company's
services remain robust, and the OptiMAS(TM) platform (incorporating
RAMP (TM) , the affinity maturation platform) has been a key
element in securing new business.
"So far in the current financial year, Fusion has received a
GBP150,000 milestone payment as a result of a humanised antibody
project which was successfully commercialised by a key client. This
was the first such payment received by the Company and is in line
with our strategic objectives of unlocking the intrinsic value that
our service offerings represent to our clients. As at 31 March
2021, the Company had an interest in fifteen client projects, six
with fixed success payments and nine royalty agreements and we will
seek to add more such arrangements in the future when warranted by
the Company's contribution to a client project.
"In August, we announced that we have entered into a commercial
collaboration agreement (the "Collaboration") with Eurofins
Discovery, a leading provider of products and services to the drug
discovery industry. 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 Company's commitment to new R&D projects was maintained
for this period and OptiMAL(TM) (the Mammalian Antibody Library
Discovery Platform) remains on track to deliver initial revenues in
2022."
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 / Vivek Bhardwaj (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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