TIDMFAB

RNS Number : 7785N

Fusion Antibodies PLC

26 September 2019

Fusion Antibodies plc

("Fusion" or the "Company")

Director/PDMR Shareholding

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, has been notified that, on 25 September 2019, Alan Mawson, Non-Executive Director, purchased 15,000 ordinary shares in the Company ("Ordinary Shares") into his pension fund at a price of 65 pence per Ordinary Share. Following this purchase, Alan Mawson has a direct and indirect interest in 68,988 Ordinary Shares, representing approximately 0.31 per cent. of the Company's issued share capital. Alan Mawson is also a Non-Executive Director of Clarendon Fund Managers Limited ("Clarendon") and sits on Clarendon's investment committee. Clarendon is the fund manager for Nitech Growth Fund LP which holds 358,850 Ordinary Shares and Viridian Growth Fund LP which holds 1,831,500 Ordinary Shares.

The following notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                       Alan Mawson 
     -------------------------  ------------------------------------------------ 
 2    Reason for the notification 
     --------------------------------------------------------------------------- 
 a)   Position/status            Non-Executive Director 
     -------------------------  ------------------------------------------------ 
 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             Ordinary shares of 4p each in Fusion Antibodies 
       the financial              plc 
       instrument, type           Identification code (ISIN) for Fusion 
       of instrument              Antibodies plc ordinary shares: 
       Identification             GB00BDQZGK16 
       code 
     -------------------------  ------------------------------------------------ 
 b)   Nature of the              Purchase of shares 
       transaction 
     -------------------------  ------------------------------------------------ 
 c)   Price(s) and volume(s)       Price(s)   Volume(s) 
                                    65p        15,000 
                                              ---------- 
     -------------------------  ------------------------------------------------ 
 d)   Aggregated information     N/A 
       - Aggregated volume 
       - Price 
     -------------------------  ------------------------------------------------ 
 e)   Date of the transaction    26 September 2019 
     -------------------------  ------------------------------------------------ 
 f)   Place of the transaction   London Stock Exchange, XLON 
     -------------------------  ------------------------------------------------

Enquiries:

 
 Fusion Antibodies plc                                        www.fusionantibodies.com 
 Dr Paul Kerr, Chief Executive                                         Via Walbrook PR 
  Officer 
 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 fusion@walbrookpr.com 
 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 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 150 humanisation projects for its 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 Biotechs get to the clinic faster and ultimately speed up the drug development process.

The global monoclonal antibody therapeutics market was valued at $95.5 billion in 2017 and is forecast to surpass $174.2 billion in 2026, an increase at a CAGR of between 6.9 per cent. for the period 2018 to 2026. In 2018, seven of the world's ten top selling drugs were antibody-based therapeutics with the combined annual sales of these drugs exceeding $62 billion.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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September 26, 2019 04:54 ET (08:54 GMT)

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