Fusion Antibodies
plc
("Fusion" or the
"Company")
First purchase order under
MSA
Order with leading
diagnostics company under master services
agreement
Fusion Antibodies plc (AIM:
FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and
diagnostic applications, announces it has received a first purchase
order under the master services agreement ("MSA") with a leading
diagnostics company (the "Client"), details of which were announced
on 14 February 2024.
In line with the Company's stated
strategy to target its services into adjacent markets, and in
particular into the diagnostics sector, the Company announced that
it had negotiated and signed the MSA with a leading global provider
of diagnostics. The MSA covers a range of Client needs that can be
met through Fusion's service offerings. The first purchase order,
valued at c. £60,000, has been received for an initial project to
generate antibodies specifically for the Client's use in diagnostic
products. It is anticipated that further purchase orders will
follow for additional and recurring projects. The Company
anticipates that, given the nature of the work being undertaken,
the majority of the revenue under the initial purchase order will
be recognised in the next financial year, commencing 1 April
2024.
Adrian Kinkaid, CEO of Fusion, said:
"Reaching this agreement with a world class
diagnostics provider positively reinforces the value to the wider
commercial world of Fusion Antibodies' technologies and
capabilities. In this case it is the generation of antibodies in
diagnostics products. We look forward to establishing a long-term
relationship with our new partner and providing them with
assistance to generate better antibodies which are more
manufacturable and can be rapidly deployed in clinical diagnostic
products for the benefit patient well-being across the
globe."
Enquiries:
|
Fusion Antibodies
plc
|
www.fusionantibodies.com
|
|
Adrian
Kinkaid, Chief Executive Officer
Stephen
Smyth, Chief Financial Officer
|
Via Walbrook
PR
|
|
|
|
|
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
|
Tel: +44 (0)207 186 9952
|
|
Damon Heath
(Joint Broker)
|
|
|
|
|
|
Walbrook PR
|
Tel: +44
(0)20 7933 8780 or fusion@walbrookpr.com
|
|
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 discovery and 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 design, 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 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.