REG - Fusion Antibodies - Grant of options

Fusion AntibodiesAnnouncement

15/09/2022 15:45

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RNS Number : 6553Z  Fusion Antibodies PLC  15 September 2022

 

Fusion Antibodies plc

("Fusion" or the "Company")

 

Grant of options

 

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and diagnostic
applications, announces that the Company has today  granted 1,480,800 options
(the "Options") over ordinary shares of 4 pence each in the Company ("Ordinary
Shares") to certain Executive Directors and employees of the Company. The
Options were granted pursuant to the Fusion Antibodies EMI and Unapproved
Employee Share Option Scheme (the "Scheme"), adopted by the Company on 11
December 2017.

 

The Options have an exercise price of 47.50 pence per Option, being the
closing mid-market price of an Ordinary Share on 14 September 2022, the day
prior to grant. The Options will vest equally over a three-year period, with
one third of the Options vesting on each anniversary following the grant date
and subject to continuing employment only.  Once vested, the Options can be
exercised for a period of ten years from the grant date.

 

200,000 of the Options have been granted to the following Executive Directors
of the Company:

 

 Name                Number of Options granted  Existing options over Ordinary Shares held  Total Options over Ordinary Shares held following grant
 Richard Buick, CSO  100,000                    180,000                                     280,000
 James Fair, CFO     100,000                    275,000                                     375,000

 

Following the grant of the Options, the Company has options in issue over a
total of 2,542,883 Ordinary Shares, representing 9.77 per cent. of the
Company's issued share capital.  2,439,133 of the options have been issued
pursuant to the Scheme and the balance of 103,750 options have been issued
outside of the scheme.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Richard Buick
 2    Reason for the notification
 a)   Position/status                                              Director - Chief Scientific Officer
 b)   Initial notification /Amendment                              Initial notification

 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 of the financial instrument, type of instrument  Options over ordinary shares of 4p each in Fusion Antibodies plc

      Identification code

                                                                   Identification code (ISIN) for Fusion Antibodies plc ordinary shares:
                                                                   GB00BDQZGK16
 b)   Nature of the transaction                                    Grant of options over ordinary shares

 c)   Price(s) and volume(s)                                        Price(s)   Volume(s)
                                                                   47.50p      100,000
 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      15 September 2022
 f)   Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

15 September 2022

f)

Place of the transaction

Outside a trading venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         James Fair
 2    Reason for the notification
 a)   Position/status                                              Director - Chief Financial Officer
 b)   Initial notification /Amendment                              Initial notification

 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 of the financial instrument, type of instrument  Options over ordinary shares of 4p each in Fusion Antibodies plc

      Identification code

                                                                   Identification code (ISIN) for Fusion Antibodies plc ordinary shares:
                                                                   GB00BDQZGK16
 b)   Nature of the transaction                                    Grant of options over ordinary shares

 c)   Price(s) and volume(s)                                        Price(s)   Volume(s)
                                                                   47.50p      100,000
 d)   Aggregated information                                       N/A

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      15 September 2022
 f)   Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

15 September 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

Enquiries:

 

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

 James Fair, Chief Financial Officer

 Allenby Capital Limited                               Tel: +44 (0)20 3328 5656
 James Reeve/Vivek Bhardwaj (Corporate Finance)

 Tony Quirke (Sales and Corporate Broking)

 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 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.

 

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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