Source - Alliance News

Fusion Antibodies PLC on Monday said that it has signed a commercial contract to develop an OptiPhage library for a non-human antibody species.

Fusion is a Belfast-based contract researcher, which provides discovery, design and optimisation services for therapeutic antibodies to the healthcare market.

OptiPhage is Fusion’s proprietary phage display platform. It is based on the OptiMAL library design, but exists in a phage display format.

According to the terms of the contract, which is with a ‘global provider of antibodies for use in research and diagnostics’, the client will be able to use the library in its own laboratory to discover antibodies.

Though initial fees are not material, Fusion said the client has secured an option to an exclusive licence to the library for an additional fee, and would pay royalties on antibodies developed for diagnostic or therapeutic use.

‘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,’ said Chief Executive Officer Adrian Kinkaid.

‘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.’

Fusion Antibodies shares were trading 2.3% lower at 3.96 pence each in London on Monday afternoon.

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Fusion Antibodies PLC (FAB)

-0.05p (-1.45%)
delayed 15:57PM