TIDMFAB
RNS Number : 1209C
Fusion Antibodies PLC
08 June 2023
8 June 2023
Fusion Antibodies plc
("Fusion" or the "Company")
Result of General Meeting
and
Total Voting Rights
Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical
antibody discovery, engineering and supply for both therapeutic
drug and diagnostic applications, announces that at the general
meeting of the Company, held earlier today, all resolutions were
duly passed.
Following the passing of the resolutions, the Company has raised
a total of GBP1,671,938.40 pursuant to the Fundraise, details of
which were announced on 19 May 2023 and 23 May 2023. Application
has been made for the admission of the 25,830,252 Second Tranche
Placing Shares, the 2,740,000 Subscription Shares and the 2,267,022
Retail Offer Shares to trading on AIM ("Second Admission") and
Second Admission is expected to occur on 12 June 2023.
Directors' holdings
Details of the interests of the Directors who participated in
the Fundraise and their resultant holdings of Ordinary Shares
following Second Admission are as follows:
Beneficial Percentage
Existing Subscription shareholding of enlarged
beneficial Shares subscribed on Second issued share
Director/PDMR/PCA shareholding for Admission capital
Simon Douglas 255,800 200,000(1) 455,800 0.77%
Adrian Kinkaid 4,000 140,000 144,000 0.24%
Sonya Ferguson 102,567 400,000 502,567 0.85%
Colin Walsh(2) - 600,000(3) 600,000 1.01%
Hamniv (GP) Limited(4) - 1,400,000 1,400,000 2.35%
(1) Subscription Shares applied for by relatives of Simon
Douglas
(2) Colin Walsh is the Chief Executive and founder of Crescent
Capital NI Limited ("Crescent Capital"), which is the fund manager
for Crescent Capital III LP which holds 613,382 Ordinary
Shares.
(3) Subscription shares applied for by Walsh Strategic
Management Limited, a company controlled by Colin Walsh
(4) Hamniv (GP) Limited is a subsidiary of Crescent Capital.
Total voting rights
Following Second Admission, the number of Ordinary Shares in
issue and number of voting rights will be 59,453,714. The above
figure may be used by shareholders as the denominator for the
calculations by which they will determine whether they are required
to notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure Guidance
and Transparency Rules.
Terms used but not defined in this announcement have the same
meaning as set out in the Company's announcement released at 10:00
on 19 May 2023 .
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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END
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