REG - Fusion Antibodies - Approval of grant funding

Fusion AntibodiesAnnouncement

24/04/2025 07:02

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RNS Number : 9391F  Fusion Antibodies PLC  24 April 2025

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(EU Exit) Regulations 2019/310 ("MAR"). With the publication of this
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24 April 2025

 

Fusion Antibodies plc

("Fusion" or the "Company")

 

Approval of grant funding

Project to develop a humanised therapeutic DR5 antibody to combat
treatment-resistant cancers

 

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and diagnostic
applications, announces the approval of an InnovateUK Launchpad grant
application (the "Grant") led by Fusion Antibodies plc in collaboration with
Queens University Belfast ("QUB").

 

Highlights:

·    Fusion to receive up to £545K direct non-dilutive funding

·    Grant to run for 18 months

·    Eligible costs include labour, overheads and materials

·    The therapeutic anti-DR5 antibody asset will be owned by Fusion and
QUB

·    Project will provide case study data for the marketing of Fusion's
technologies

 

The total funding being made available under the Grant is over £808k, with up
to £545k expected to be provided for Fusion over a period of approximately 18
months. Funds are being provided by UK Research & Innovation ("UKRI") and
InvestNI. The primary purpose of the grant is to develop a humanised antibody
targeting and activating the DR5 protein on cancer cells for the treatment of
cancers which are resistant to other therapies, with a goal of having a clinic
ready therapeutic asset at the end of the project that can be licenced to
third party pharma companies or biotechs.

 

A formal collaboration agreement has already been agreed and signed by Fusion
and QUB setting out the work programme. Fusion's primary role will be the
humanisation of the antibody and creation of a stable cell line. QUB will be
conducting the in vivo efficacy studies of the antibody.

 

The Grant support to Fusion is to cover human resource needs,
materials/consumables costs and overheads. The project is expected to start on
1 May 2025 and will provide case study data for the marketing of Fusion's
technologies. The antibody asset generated under the Grant project will be
jointly owned by Fusion and QUB although the ownership ratios are still to be
determined.

 

Adrian Kinkaid, CEO of Fusion, said: "We are delighted to receive this grant
from UKRI and InvestNI. The project exemplifies the collaborative interactions
we set out to achieve as part of the Future Medicines Institute and builds on
the solid foundations that provides."

 

Richard Buick, CSO of Fusion, said: "This project will allow us to demonstrate
some of our exceptional and world class scientific capabilities in the
development of a novel DR5 agonist antibody. The target has attracted the
interest of several of the best biotechnology companies pursuing novel cancer
therapies."

 

Chistopher Scott, Dean of Research, QUB, said: "I am delighted that QUB can
partner with regional companies with such expertise to enhance development of
home ground therapeutics - this builds on the successful establishment of the
Future Medicines Institute aiming to bring the best of academic research, in
this case the Patrick G Johnston Cancer Centre, together with industrial
partners for the development of health and wealth benefits for Northern
Ireland."

 

Enquiries:

 

 Fusion Antibodies plc                                           www.fusionantibodies.com
 Adrian Kinkaid, Chief Executive Officer                         Via Walbrook PR

 Stephen Smyth, Chief Financial Officer

 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 fusion@walbrookpr.com
 Anna Dunphy                                                     Mob: +44 (0)7876 741 001

 

Investor Hub

 
 
 

We encourage all investors to share questions on this announcement via our
investor hub. You can view it here:
https://investorhub.fusionantibodies.com/link/drLEQP
(https://investorhub.fusionantibodies.com/link/drLEQP)

 

To view a video summary of today's news and pose questions, navigate to our
Interactive Investor hub here: https://investorhub.fusionantibodies.com/
(https://investorhub.fusionantibodies.com/) . Engage with us by asking
questions, watching video summaries and seeing what other shareholders have to
say.

 

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/or expressed over 750 antibodies and successfully completed over 250
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 Biotech companies get to the clinic faster, with the
optimal drug candidate and ultimately speed up the drug development process.

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