Fusion Antibodies PLC Research Alliance with Queen's University Belfast
16 Aprile 2020 - 4:51PM
RNS Non-Regulatory
TIDMFAB
Fusion Antibodies PLC
16 April 2020
16 April 2020
Fusion Antibodies plc
("Fusion Antibodies", "Fusion" or the "Company")
Research Alliance with Queen's University Belfast
Fusion Antibodies (AIM: FAB), specialists in pre-clinical
antibody discovery, engineering and supply, announces that the
Company is working with Queen's University Belfast ("QUB") as part
of The Northern Ireland Coronavirus Antibody Development Alliance
("NICADA"), which has been established to seek new therapeutic and
diagnostic approaches to help in the global fight against the
coronavirus pandemic.
NICADA aims to develop new therapeutic molecules that can be
evaluated for their ability to neutralize SARS-CoV-2, the virus
that causes COVID-19 disease.
Working with Professor Ultan Power in the Wellcome-Wolfson
Institute of Experimental Medicine, Professor Chris Scott in The
Patrick G Johnston Centre for Cancer Research and Dr Fuquan Lui in
the School of Biological Sciences, at QUB, it is intended that
Fusion will prepare antibodies that will potentially neutralise the
virus. There is a shortage of key reagents for testing globally
and, although not a core service currently offered by the Company,
Fusion Antibodies will be using their expertise in the development
of key antibody related reagents
Fusion and QUB have not agreed to any financial arrangements in
respect of the research alliance, and the arrangement is not
expected to impact Fusion's revenue or working capital
position.
Paul Kerr, Chief Executive Officer of Fusion Antibodies said:
"We are delighted to be able assist in the global battle against
coronavirus. In the first instance we'll work with Queen's
University Belfast to use our expertise in the development of any
key reagents."
Professor Chris Scott, Director of the Patrick G Johnston Cancer
Centre, Queen's University Belfast, said: "By bringing together
diverse researchers from virology, biological sciences and cancer
research we are rapidly contributing to the development of new
reagents that could not only neutralize the virus, but also aid
diagnostic efforts; both of which are needed to inform decisions on
lifting the current lockdown. We are delighted to initiate this
alliance with Fusion Antibodies and to direct our research
capabilities towards tackling this global pandemic."
Ultan Power, Professor of Molecular Virology, Queen's University
Belfast said: "The NICADA alliance provides an excellent
opportunity to generate novel therapeutics and diagnostics to help
the global fight against SARS-CoV-2."
The NICADA alliance is actively harnessing leading scientific
talent to assist with tackling the global coronavirus pandemic.
Enquiries:
Fusion Antibodies plc www.fusionantibodies.com
Dr Paul Kerr, Chief Executive Officer Via Walbrook PR
James Fair, Chief Financial Officer
Allenby Capital Limited Tel: +44 (0)20 3328 5656
James Reeve / Asha Chotai
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 100 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 Biotechs 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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END
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