REG - Fusion Antibodies - Update on Board changes

Fusion AntibodiesAnnouncement

14/03/2022 07:00

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RNS Number : 5622E  Fusion Antibodies PLC  14 March 2022

Fusion Antibodies plc

("Fusion" or the "Company")

 

Update on Board changes

 

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and diagnostic
applications, announces an update on the changes to the Board of the Company,
further to the Company's announcement on 21 February 2022.

 

Richard Jones has now stepped down from his role as CEO, effective from 11
March 2022. Simon Douglas, Chairman of Fusion, supported by James Fair (Chief
Financial officer), Richard Buick (Chief Scientific Officer) and the senior
management, will assume responsibility for the running of the business while
the arrangements for a new CEO are finalised. A formal search for a new CEO is
currently underway and continues as planned.

 

The Board confirms that trading for the current year ending 31 March 2022
remains in line with expectations.

 

Enquiries:

 

 Fusion Antibodies plc                                 www.fusionantibodies.com (http://www.fusionantibodies.com)
 Simon Douglas, Chairman                               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 Collaborative Research Organisation ("CRO") company,
listed on AIM, providing a range of antibody engineering services for the
development of antibodies for both therapeutic drug and diagnostic
applications.

 

Fusion provides a broad range of services in antibody generation, development,
characterisation, optimisation, and small-scale production. These services
include antigen expression, purification and sequencing, antibody humanisation
using Fusion's proprietary CDRx(TM) platform and cell line development,
producing antibody generating stable cell lines optimised for use downstream
by the customer to produce material for clinical trials. Since 2012, the
Company has successfully sequenced and expressed over 250 antibodies and
successfully completed over 200 humanisation projects for its international
customer base, which has included eight of the top 10 global pharmaceutical
companies by revenue.

 

At every stage, our client's vision is central to how we work in combining the
latest technological advances with cutting edge science. In this work our
world-class humanization and antibody optimization platforms harness the power
of natural somatic hypermutation (SHM) to ensure the best molecule goes to the
clinic. Fusion Antibodies' growth strategy is based on enabling Pharma and
Biotech companies get to the clinic more effectively, using molecules with
optimized therapeutic profile and enhanced potential for successful
development and approval and, ultimately, on speeding up the drug discovery
and development process. Fusion's use of SHM to create a fully human antibody
library to capture the human antibody repertoire will address a continuing
market need in antibody discovery,

 

Fusion Antibodies' emphasis on antibody therapeutics is based on the size and
growth rate in the sector, with the market valued at $135.4 billion in 2018
and forecast to surpass $300 billion by 2025, a CAGR of 14.26%. As of May
2021, there were 100 approved antibody therapies on the market and more than
570 antibody therapies in clinical development.

 

 

 

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