Fusion Antibodies PLC OptiMAL collaboration agreement (8229U)
28 November 2023 - 6:00PM
UK Regulatory
TIDMFAB
RNS Number : 8229U
Fusion Antibodies PLC
28 November 2023
28 November 2023
Fusion Antibodies plc
("Fusion" or the "Company")
OptiMAL (R) collaboration agreement
Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical
antibody discovery, engineering and supply for both therapeutic
drug and diagnostic applications, announces that it has signed a
collaboration agreement (the "Agreement") with the National Cancer
Institute ("NCI") for the use of OptiMAL(R) in the discovery of
novel antibodies against targets selected by NCI.
Under the terms of the Agreement, Fusion will provide access to
the OptiMAL(R) technology to NCI for deployment against an agreed
number of targets, being primarily cancer targets, over a period of
up to two years, in order to develop potential therapeutic
antibodies against the selected targets. The parties will work
together to ensure successful validation of the OptiMAL(R)
technology and jointly publish any results from the collaboration.
The validation will be run at NCI's laboratories by their staff and
antibodies identified pursuant to the Agreement would be retained
by NCI.
NCI, part of the US National Institutes of Health, is the US
federal government's principal agency for cancer research and
training.
Adrian Kinkaid, CEO of Fusion, commented: "At the time of our
fundraise in May, we said that we would be seeking the support of
third parties to continue to progress the delivery of OptiMAL(R) .
We are delighted to have been able to secure a partner with the
expertise of NCI to provide validation to the technology without
Fusion being required to commit significant resource to the
project."
Mitchell Ho, Ph.D., Deputy Chief, Laboratory of Molecular
Biology and Director of the Antibody Engineering Program, Center
for Cancer Research, NCI commented: " NCI will test the OptiMAL (R)
platform for the discovery of novel antibodies to cancer targets
and also SARS-CoV-2. We have a particular interest in Mammalian
Cell Display as a discovery engine and look forward to using this
in NCI."
Richard Buick, CSO of Fusion, commented: " The expertise and
experience of Dr. Ho and his colleagues make NCI an ideal partner
for validation of the Optimal (R) library and mammalian cell
display technology. I look forward to the collaboration and working
closely with the National Cancer Institute."
Enquiries:
Fusion Antibodies plc www.fusionantibodies.com
Adrian Kinkaid, Chief Executive Officer Via Walbrook PR
Stephen Smyth, Chief Financial Officer
Richard Buick, Chief Scientific 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
About Fusion Antibodies plc
Fusion is a Belfast based contract research organisation ("CRO")
providing a range of antibody engineering services for the
discovery and 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 design, 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 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
$186 billion in 2021 and is forecast to surpass $445 billion in
2028, an increase at a CAGR of 13.2 per cent. for the period 2022
to 2028. Approximately 150 monoclonal antibody therapies are
approved and marketed globally as of June 2022 with the top four
antibody drugs each having sales of more than $3 bn in 2021.
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