Contract to develop a bespoke OptiPhageTM library
15 April 2024
Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody
discovery, engineering and supply for both therapeutic drug and
diagnostic applications, is pleased to announce that it has entered
into a commercial contract (the “Contract”) to develop a bespoke
OptiPhageTM library for a non-human antibody species (the
“Project”) with a leading global provider of antibodies for use
in research and diagnostics (the “Client”).
OptiPhageTM is Fusion’s proprietary phage display platform
based on the OptiMAL® library design but in a phage display format. This
Contract represents the Company’s first commercial sale of its
OptiPhageTM technology and the first commercial library
design and supply contract. It is anticipated that the Project will
provide the Client with an alternative pathway to produce high quality
antibodies, reducing its need to run animal-based antibody generation.
The Client will be able to use the library in its own laboratory to
discover antibodies for research use. Whilst the initial fees due to
Fusion under the Contract are not themselves material, the Client has
also secured an option to an exclusive license to the library for an
additional fee and would pay royalties on antibodies developed for
diagnostic or therapeutic use. Fusion remains free to develop further
OptiPhageTM libraries for its own use or for other clients as
it adds this service to its increasingly comprehensive range of
offerings.
Phage display is a commonly used discovery method to identify fragments
of antibodies which bind to a given target. The fragments are
subsequently combined to reconstitute an antibody. Due to the popularity
of the phage display methodology, the board believes that the
OptiPhageTM offering represents a significant new opportunity
for Fusion to engage with new clients engaged in discovering and
developing antibodies for use in research, diagnostics and/or
therapeutics. It also creates additional opportunities for the Company
to ‘upsell’ to the more technologically advanced and higher value
OptiMAL® platform as well as various protein engineering and supply
contracts.
Adrian Kinkaid, CEO of Fusion, said: “This is our first OptiPhageTM library project and represents a milestone for the business on our technology development roadmap. Reaching this agreement with one of the leading providers in their field is hugely exciting for Fusion. It reinforces the value to the wider commercial world of Fusion’s technologies, capabilities and demonstrates our ability to adapt to better meet our client’s needs. We look forward to establishing a long-term relationship with our Client and providing them with assistance to generate high quality antibodies whilst reducing their reliance on animals.”
Richard Buick, CSO of Fusion, said: “We are excited to work with this provider of research and diagnostic antibodies to reduce their reliance on animals in accordance with the 3Rs (replacement, reduction and refinement) initiative. Our ’Opti’ technology for library design is well suited for phage display screening platforms and we look forward to using it to generate high quality antibodies.”
Enquiries:
| Fusion Antibodies plc | www.fusionantibodies.com | |
| Adrian Kinkaid, Chief Executive
Officer Stephen Smyth, Chief Financial 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) |
||
| Shard Capital Partners LLP | ||
| Damon Heath (Joint Broker) | Tel: +44 (0)207 186 9952 | |
| 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.