FAB Fusion Antibodies Plc

TIDMFAB

RNS Number : 5920V

Fusion Antibodies PLC

04 December 2023

4 December 2023

Fusion Antibodies plc

("Fusion" or the "Company")

Director/PDMR Shareholdings

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, has been notified of the following purchases of ordinary shares of 4 pence each in the Company ("Ordinary Shares") by certain Directors of Fusion.

Simon Douglas, Non-Executive Chair, has purchased 100,565 Ordinary Shares at an average price of 4.96 pence per share. Following this purchase, Simon Douglas directly holds 356,365 Ordinary Shares, representing approximately 0.60 per cent. of the Company's issued share capital.

Adrian Kinkaid, Chief Executive Officer, has purchased 101,847 Ordinary Shares at an average price of 4.90 pence per share. Following this purchase, Adrian Kinkaid holds 245,847 Ordinary Shares, representing approximately 0.41 per cent. of the Company's issued share capital.

Further details of the respective purchases are outlined in the tables below.

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                            Simon Douglas 
     ------------------------------  ----------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position/status                 Non-Executive Chair 
     ------------------------------  ----------------------------------- 
 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) 
                                         4.96p      100,565 
                                                   ---------- 
     ------------------------------  ----------------------------------- 
 d)   Aggregated information 
       - Aggregated volume               *    See above 
       - Price 
 
                                         *    See above 
     ------------------------------  ----------------------------------- 
 e)   Date of the transaction         4 December 2023 
     ------------------------------  ----------------------------------- 
 f)   Place of the transaction        XLON, London Stock Exchange 
     ------------------------------  ----------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                            Adrian Kinkaid 
     ------------------------------  ----------------------------------- 
 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              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) 
                                         4.90p      101,847 
                                                   ---------- 
     ------------------------------  ----------------------------------- 
 d)   Aggregated information 
       - Aggregated volume               *    See above 
       - Price 
 
                                         *    See above 
     ------------------------------  ----------------------------------- 
 e)   Date of the transaction         4 December 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 
  Stephen Smyth, 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 
 
 

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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December 04, 2023 07:26 ET (12:26 GMT)