TIDMFAB

RNS Number : 4728Z

Fusion Antibodies PLC

10 January 2020

10 January 2020

Fusion Antibodies plc

("Fusion" or the "Company")

Director/PDMR Shareholding

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, has been notified today that, on 8 January 2020, Alan Mawson, Non-Executive Director, purchased 20,000 ordinary shares in the Company ("Ordinary Shares") into his pension fund at a price of 77 pence per Ordinary Share.

Following this purchase, Alan Mawson has a direct and indirect interest in 108,988 Ordinary Shares, representing approximately 0.5 per cent. of the Company's issued share capital. Alan Mawson is also a Non-Executive Director of Clarendon Fund Managers Limited ("Clarendon") and sits on Clarendon's investment committee. Clarendon is the fund manager for Nitech Growth Fund LP which holds 358,850 Ordinary Shares and Viridian Growth Fund LP which holds 1,831,500 Ordinary Shares.

The following notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                      Alan Mawson 
     ------------------------  --------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------- 
 a)   Position/status           Non-Executive Director 
     ------------------------  --------------------------------------- 
 b)   Initial notification      Initial notification 
       /Amendment 
     ------------------------  --------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------- 
 a)   Name                      Fusion Antibodies plc 
     ------------------------  --------------------------------------- 
 b)   LEI                       213800KBAYRC9VOQ9V39 
     ------------------------  --------------------------------------- 
 4    Details of the transaction(s): section to be repeated for 
       (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ----------------------------------------------------------------- 
 a)   Description               Ordinary shares of 4p each in Fusion 
       of the financial          Antibodies plc 
       instrument,               Identification code (ISIN) for Fusion 
       type of instrument        Antibodies plc ordinary shares: 
       Identification            GB00BDQZGK16 
       code 
     ------------------------  --------------------------------------- 
 b)   Nature of the             Purchase of shares 
       transaction 
     ------------------------  --------------------------------------- 
 c)   Price(s) and                Price(s)   Volume(s) 
       volume(s)                   77p        20,000 
                                             ---------- 
     ------------------------  --------------------------------------- 
 d)   Aggregated information:   N/A 
       - Aggregated 
       volume 
       - Price 
     ------------------------  --------------------------------------- 
 e)   Date of the               8 January 2020 
       transaction 
     ------------------------  --------------------------------------- 
 f)   Place of the              London Stock Exchange, XLON 
       transaction 
     ------------------------  --------------------------------------- 
 

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 - www.fusionantibodies.com

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 150 humanisation projects for its 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 and ultimately speed up the drug development process.

The global monoclonal antibody therapeutics market was valued at $95.5 billion in 2017 and is forecast to surpass $174.2 billion in 2026, an increase at a CAGR of 6.9 per cent. for the period 2018 to 2026. In 2018, seven of the world's ten top selling drugs were antibody-based therapeutics with the combined annual sales of these drugs exceeding $62 billion.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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January 10, 2020 06:47 ET (11:47 GMT)

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