Fusion Antibodies PLC Director/PDMR Shareholding (4414X)

TIDMFAB

RNS Number : 4414X

Fusion Antibodies PLC

29 April 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, 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       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) 
                                    77p        1,290 
                                              ---------- 
     -------------------------  ------------------------------------------------ 
 d)   Aggregated information     N/A 
       - Aggregated volume 
       - Price 
     -------------------------  ------------------------------------------------ 
 e)   Date of the transaction    29 April 2019 
     -------------------------  ------------------------------------------------ 
 f)   Place of the transaction   London Stock Exchange, XLON 
     -------------------------  ------------------------------------------------ 
 

Enquiries:

 
 Fusion Antibodies plc                                              www.fusionantibodies.com 
 Dr Paul Kerr, Chief Executive Officer                                       Via Walbrook PR 
 James Fair, Chief Financial Officer 
 
 
 
 Allenby Capital Limited                                                 Tel: [phone] 
                                                                                        5656 
 James Reeve / Asha Chotai 
 
 
 
 Walbrook PR                               Tel: [phone] or [e-mail] 
 Paul McManus                                                       Mob: [phone] 
 Anna Dunphy                                                        Mob: [phone] 
 
 

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 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.

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 [e-mail] or visit www.rns.com.

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April 29, 2019 09:46 ET (13:46 GMT)