Fusion Antibodies plc
(“Fusion” or the “Company”)
Further contract with returning pharmaceutical client
Fusion Antibodies plc (AIM: FAB), a specialist in pre-clinical antibody discovery, engineering and supply for therapeutic drug and diagnostic applications, announces it has been awarded a new affinity engineering project using its proprietary Rational Affinity Maturation Programme (“RAMP”) technology (the “RAMP Project”) for a European listed global pharmaceutical company (the “Client”). The project, which involves affinity engineering of the Client’s lead antibody, has been awarded under an existing master services agreement. Fusion has previously undertaken similar project work in the past, and the new award represents renewed engagement with an established pharmaceutical partner.
The RAMP Project is expected to generate revenues in excess of £45,000 for the Company, with work expected to be completed within the current financial year and will contribute to the Company’s revenues during the period. The award represents further business from an established pharmaceutical client and demonstrates Fusion’s ability to re-engage with existing customers through its specialist antibody engineering capabilities. It supports Fusion’s strategy of developing deeper commercial relationships with major pharmaceutical companies to strengthen the quality and resilience of its revenue base and increase opportunities for recurring business. The technically complex project also demonstrates the relevance of Fusion’s specialist capabilities as the Company seeks to commercialise technologies including RAMP, OptiMAL® and microfluidic cell line development.
Adrian Kinkaid, CEO of Fusion, said: “We are delighted to have secured this new RAMP project with a returning global pharmaceutical client. It is particularly encouraging to re-engage with an established customer for whom we have previously undertaken similar work, demonstrating the continued relevance of our specialist antibody engineering capabilities.
“The award provides a further opportunity to apply our proprietary RAMP technology to the development of the Client’s lead antibody. Our focus remains on delivering high-quality antibody engineering services and building deeper relationships with major pharmaceutical companies, creating opportunities for further collaboration.”
Enquiries:
Fusion Antibodies plc | www.fusionantibodies.com | |||
Adrian Kinkaid, Chief Executive Officer Stephen Smyth, Chief Financial Officer | Via Walbrook PR | |||
Fusion Antibodies interactive investor hub | ||||
Allenby Capital Limited | Tel: +44 (0) 20 3328 5656 | |||
James Reeve/Vivek Bhardwaj (Corporate Finance) Tony Quirke/Joscelin Pinnington (Sales and Corporate Broking) | ||||
Shard Capital Partners LLP | ||||
Damon Heath (Joint Broker) | Tel: +44 (0) 207 186 9952 | |||
Walbrook PR | Tel: +44 (0)20 7933 8780 or [email protected] | |||
Anna Dunphy | Mob: +44 (0)7876 741 001 | |||
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 discovery, 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 400 antibodies and successfully completed over 295 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 and antibodies 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.
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