Fusion Antibodies PLC Grant of options (5751P)
20 October 2021 - 2:25AM
UK Regulatory
TIDMFAB
RNS Number : 5751P
Fusion Antibodies PLC
19 October 2021
Fusion Antibodies plc
("Fusion" or the "Company")
Grant of options
Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical
antibody discovery, engineering and supply for both therapeutic
drug and diagnostic applications, announces that the Company has
today granted 250,000 options (the "Options") over ordinary shares
of 4 pence each in the Company ("Ordinary Shares") to Richard
Jones, CEO. The Options were granted pursuant to the Fusion
Antibodies EMI and Unapproved Employee Share Option Scheme (the
"Scheme"), adopted by the Company on 11 December 2017.
The Options have an exercise price of 127.5 pence per option,
being the closing mid-market price of an Ordinary Share on 18
October 2021, the day prior to grant. The Options will vest as
follows:
-- one third of the Options will vest on 16 February 2022, being
the one year anniversary of Richard joining the Company;
-- one third will vest on the second anniversary of Richard
joining Fusion, being 16 February 2023; and
-- one third will vest on the third anniversary of Richard
joining Fusion, being 16 February 2024.
Once vested, the Options can be exericised up until 18 October
2031 subject to continuing employment only. Richard does not have
an interest in any other Ordinary Shares or hold any other options
over Ordinary Shares. Further detail is set out in the PDMR
disclosure table below.
Following the grant of the Options, the Company has options in
issue over a total of 1,143,749 Ordinary Shares, representing 4.4
per cent. of the Company's issued share capital. 1,014,999 of the
options have been issued pursuant to the Scheme and the balance of
128,750 options have been issued outside of the scheme.
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 Jones
----------------------------- ------------------------------------
2 Reason for the notification
-------------------------------------------------------------------
a) Position/status Chief Executive 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 Options over ordinary shares
financial instrument, of 4p each in Fusion Antibodies
type of instrument plc
Identification code
Identification code (ISIN)
for Fusion Antibodies plc
ordinary shares: GB00BDQZGK16
----------------------------- ------------------------------------
b) Nature of the transaction Grant of options over ordinary
shares
----------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
127.5p 250,000
----------
----------------------------- ------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
----------------------------- ------------------------------------
e) Date of the transaction 19 October 2021
----------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------
Enquiries:
Fusion Antibodies plc www.fusionantibodies.com
Richard Jones, Chief Executive Officer 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 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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END
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