REG - Fusion Antibodies - Contract to develop a bespoke OptiPhage library

Fusion AntibodiesAnnouncement

15/04/2024 07:00

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RNS Number : 5292K  Fusion Antibodies PLC  15 April 2024

15 April 2024

 

Fusion Antibodies plc

("Fusion" or the "Company")

 

Contract to develop a bespoke OptiPhage(TM) library

 

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and diagnostic
applications, is pleased to announce that it has entered into a commercial
contract (the "Contract") to develop a bespoke OptiPhage(TM) library for a
non-human antibody species (the "Project") with a leading global provider of
antibodies for use in research and diagnostics (the "Client").

 

OptiPhage(TM) is Fusion's proprietary phage display platform based on the
OptiMAL® library design but in a phage display format. This Contract
represents the Company's first commercial sale of its OptiPhage(TM) technology
and the first commercial library design and supply contract. It is anticipated
that the Project will provide the Client with an alternative pathway to
produce high quality antibodies, reducing its need to run animal-based
antibody generation.

 

The Client will be able to use the library in its own laboratory to discover
antibodies for research use. Whilst the initial fees due to Fusion under the
Contract are not themselves material, the Client has also secured an option to
an exclusive license to the library for an additional fee and would pay
royalties on antibodies developed for diagnostic or therapeutic use. Fusion
remains free to develop further OptiPhage(TM) libraries for its own use or for
other clients as it adds this service to its increasingly comprehensive range
of offerings.

 

Phage display is a commonly used discovery method to identify fragments of
antibodies which bind to a given target. The fragments are subsequently
combined to reconstitute an antibody. Due to the popularity of the phage
display methodology, the board believes that the OptiPhage(TM) offering
represents a significant new opportunity for Fusion to engage with new clients
engaged in discovering and developing antibodies for use in research,
diagnostics and/or therapeutics. It also creates additional opportunities for
the Company to 'upsell' to the more technologically advanced and higher value
OptiMAL® platform as well as various protein engineering and supply
contracts.

 

Adrian Kinkaid, CEO of Fusion, said: "This is our first OptiPhage(TM) library
project and represents a milestone for the business on our technology
development roadmap. Reaching this agreement with one of the leading providers
in their field is hugely exciting for Fusion. It reinforces the value to the
wider commercial world of Fusion's technologies, capabilities and demonstrates
our ability to adapt to better meet our client's needs. We look forward to
establishing a long-term relationship with our Client and providing them with
assistance to generate high quality antibodies whilst reducing their reliance
on animals."

 

Richard Buick, CSO of Fusion, said: "We are excited to work with this provider
of research and diagnostic antibodies to reduce their reliance on animals in
accordance with the 3Rs (replacement, reduction and refinement) initiative.
Our 'Opti' technology for library design is well suited for phage display
screening platforms and we look forward to using it to generate high quality
antibodies."

 

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

 

 

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 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 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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