By Ian Walker

Fusion Antibodies shares rose 58% after the company said that it has signed a collaboration agreement with the U.S. National Cancer Institute toward the discovery of potential therapeutic antibodies.

Shares at 1242 GMT on Tuesday were up 2.0 pence at 5.45 pence, marking their best one-day percentage performance since September 2020.

Under the deal the U.K. biotechnology company will provide the NCI with access to its OptiMAL technology against an agreed number of cancer targets for up to two years. The parties will work together to ensure successful validation of the technology and jointly publish any results.

NCI, part of the U.S. National Institutes of Health, is the U.S. federal government's main agency for cancer research and training.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

November 28, 2023 08:08 ET (13:08 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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