29 April 2019
Fusion Antibodies plc (AIM: FAB), a contract research organisation providing a range of antibody engineering services for the development of antibodies for both therapeutic drug and diagnostic applications, announces that Dr Paul Kerr, Chief Executive Officer of the Company, has today purchased 1,290 ordinary shares in the Company ("Ordinary Shares") at a price of 77 pence per Ordinary Share. Following this purchase, Dr Paul Kerr has a direct and indirect interest in 533,790 Ordinary Shares, representing approximately 2.42 per cent. of the Company's issued share capital.
|1||Details of the person discharging managerial responsibilities / person closely associated|
|a)||Name||Dr Paul Kerr|
|2||Reason for the notification|
|a)||Position/status||Chief Executive Officer|
|b)||Initial notification /Amendment||Initial notification|
|3||Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor|
|a)||Name||Fusion Antibodies plc|
|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 financial instrument, type of instrument
|Ordinary shares of 4p each in Fusion Antibodies plc
Identification code (ISIN) for Fusion Antibodies plc ordinary shares:
|b)||Nature of the transaction||Purchase of shares|
|c)||Price(s) and volume(s)||
- Aggregated volume
|e)||Date of the transaction||29 April 2019|
|f)||Place of the transaction||London Stock Exchange, XLON|
|Fusion Antibodies plc||www.fusionantibodies.com|
|Dr Paul Kerr, Chief Executive Officer||Via Walbrook PR|
|James Fair, Chief Financial Officer|
|Allenby Capital Limited||Tel: +44 (0)20 3328 5656|
|James Reeve / Asha Chotai|
|Walbrook PR||Tel: +44 (0)20 7933 8780 or firstname.lastname@example.org|
|Paul McManus||Mob: +44 (0)7980 541 893|
|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 CDRxTM 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 over 250 antibodies and successfully completed over 100 humanisation projects for its international, blue-chip client base, which includes 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. It was initially a drug development business but revised its operations to focus on CRO work in 2011. The Company has a highly experienced management team with a combined 47 years' experience in the biopharma industry.
The global monoclonal antibody therapeutics market, which accounted for 43 per cent. of the global biologics market in 2016, was valued at between $85.4 billion and $86.7 billion in 2015 and is forecast to increase at a CAGR of between 8.2 per cent. and 12.2 per cent. for the period 2016 to 2024.