Collaboration with Eurofins Discovery

RNS Number : 5196J

Fusion Antibodies PLC

24 August 2021

 

Reach - non regulatory announcement

Fusion Antibodies plc

("Fusion" or the "Company")

Collaboration with Eurofins Discovery

Fusion Antibodies plc (AIM: FAB), a specialist in the pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, announces that is has entered into a commercial collaboration agreement (the "Collaboration") with Eurofins Discovery ("Eurofins"), a leading provider of products and services to the drug discovery industry. Eurofins is a Eurofins Scientific SE (EUFI.PA) group company. Pursuant to the Collaboration, Fusion will provide comprehensive pre-clinical antibody development services from discovery, engineering, and critical reagent supply to Eurofins and onwards to their customers.

The Collaboration is not expected to have a material impact on the Company's earnings in the current financial year, however, the Directors of Fusion consider that it demonstrates a commitment by both parties to provide world-class scientific expertise, next-generation technology, and guidance to accelerate the delivery of the best possible antibody against a broad range of targets and therapeutic areas into the clinic for both parties.

As leading global innovation-driven and customer-focused providers of antibody development services, Fusion Antibodies and Eurofins Discovery share common values in the culture of collaboration and the pursuit of scientific excellence.

Richard Jones, CEO of Fusion Antibodies commented: " We're delighted to enter into this commercial collaboration with Eurofins which leverages the respective expertise of both partners, delivering on both our strategic objectives as well as providing a full client service package."

Enquiries: 

Fusion Antibodies plc		www.fusionantibodies.com
Richard Jones, Chief Executive Officer James Fair, Chief Financial Officer		Via Walbrook PR
Allenby Capital Limited		Tel: [phone]
James Reeve (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 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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