Update on Board changes

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
Simon Douglas, Chairman James Fair, Chief Financial Officer		Via Walbrook PR
Allenby Capital Limited		Tel: [phone]
James Reeve/Vivek Bhardwaj (Corporate Finance) Tony Quirke (Sales and Corporate Broking)
Walbrook PR	Tel: [phone] or  [e-mail]
Anna Dunphy		Mob: [phone]
Paul McManus		Mob: [phone]

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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