Fusion Antibodies PLC Directorate Change (2031C)
21 February 2022 - 6:00PM
UK Regulatory
TIDMFAB
RNS Number : 2031C
Fusion Antibodies PLC
21 February 2022
The information communicated within this announcement is deemed
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Abuse (amendment) (EU Exit) Regulations 2019/310. Upon the
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Fusion Antibodies plc
("Fusion" or the "Company")
Director change
Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical
antibody discovery, engineering and supply for both therapeutic
drug and diagnostic applications, announces that Richard Jones has
resigned from his role as CEO of the Company in order to pursue
other opportunities. Richard will remain with the Company while
arrangements are put in place for his successor. The Board has
initiated a formal search for a new CEO.
A further announcement will be made in due course.
Dr Simon Douglas, Chairman of Fusion Antibodies, commented: "On
behalf of the Board, I would like thank Richard for his
contribution to the Company over the last year and wish him well in
the future."
Dr Richard Jones, CEO of Fusion Antibodies commented: "I have
enjoyed working with the Directors and staff of Fusion and wish
them well for the future. I believe the Company to be well placed
to continue to grow in the global antibodies marketplace."
Enquiries:
Fusion Antibodies plc 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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