REG - Fusion Antibodies - Update on AI/ML-Ab service offering

Fusion AntibodiesAnnouncement

29/08/2023 07:00

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RNS Number : 5440K  Fusion Antibodies PLC  29 August 2023

Fusion Antibodies plc

("Fusion" or the "Company")

 

Update on AI/ML-Ab(TM) service offering

 

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and diagnostic
applications, announces that it has received a first purchase order for its
AI/ML-Ab(TM) (pronounced AIM-Lab) services. The customer, based in Australia,
was introduced under the framework of the agreement the Company has recently
entered into with a leading US-based AI/ML (artificial intelligence and
machine learning) company, and the details of this were announced on 21 August
2023. This purchase order demonstrates commercial traction for AI/ML-Ab(TM)
and the Directors believe that there is significant market potential for this
service offering.

 

Fusion Antibodies CEO, Adrian Kinkaid said: "We are delighted to be able to
announce the first order for our AI/ML-Ab(TM) service offering. This confirms
that we are pursuing the right strategy at Fusion and that the market values
the services we offer. As our industry rapidly evolves to find new ways to
hasten the discovery of better bio-therapeutics to take to the clinic, Fusion
is well positioned at the forefront of Antibody discovery and development
processes, including those using AI/ML, and with all the resources required to
meet the growing need for our services."

 

Enquiries:

 

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

 Richard Buick, Chief Scientific Officer

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

 Tony Quirke/Joscelin Pinnington (Sales and Corporate Broking)

 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.

 

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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