TIDMFAB

RNS Number : 4124C

Fusion Antibodies PLC

12 June 2023

12 June 2023

Fusion Antibodies plc

("Fusion" or the "Company")

Director/PDMR Shareholding

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, has been notified that Richard Buick, Chief Scientific Officer of Fusion, has purchased 68,750 ordinary shares in the Company ("Ordinary Shares") at a price of 7.2 pence per Ordinary Share. Following this purchase, Richard Buick holds 700,000 Ordinary Shares, representing approximately 1.18 per cent. of the Company's issued share capital.

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                 Chief Scientific Officer 
     ------------------------------  ----------------------------------- 
 b)   Initial notification            Initial notification 
       /Amendment 
     ------------------------------  ----------------------------------- 
 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              ordinary shares of 4p each 
       financial instrument,           in Fusion Antibodies plc 
       type of instrument 
 
       Identification code             Identification code (ISIN) 
                                       for Fusion Antibodies plc 
                                       ordinary shares: GB00BDQZGK16 
     ------------------------------  ----------------------------------- 
 b)   Nature of the transaction       Purchase of Ordinary Shares 
     ------------------------------  ----------------------------------- 
 c)   Price(s) and volume(s)            Price(s)   Volume(s) 
                                         7.2p       68,750 
                                                   ---------- 
     ------------------------------  ----------------------------------- 
 d)   Aggregated information 
       - Aggregated volume               *    68,750 
       - Price 
 
                                         *    7.2p 
     ------------------------------  ----------------------------------- 
 e)   Date of the transaction         9 June 2023 
     ------------------------------  ----------------------------------- 
 f)   Place of the transaction        XLON, London Stock Exchange 
     ------------------------------  -----------------------------------

Enquiries:

 
 Fusion Antibodies plc                                  www.fusionantibodies.com 
 Adrian Kinkaid, Chief Executive Officer                         Via Walbrook PR 
 
 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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June 12, 2023 06:02 ET (10:02 GMT)

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