Business
Ongoing discussions with MAB Discovery
Ongoing discussions with MAB Discovery.
About this update from Fusion Antibodies Plc
[{"type":"text","content":"\n \nRNS Number : 0229S Fusion Antibodies PLC 20 June 2018 \n\n20 June 2018\nFusion Antibodies plc \n(\"Fusion\" or the \"Company\")\n \nOngoing discussions with MAB Discovery for revised collaboration agreement\nAdvance notice of termination of existing agreement in-line with discussions\n \nFusion 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, provides an update on the Company's collaboration agreement (the \"Collaboration Agreement\") with MAB Discovery GmBH (\"MAB\"). \n \nThe existing Collaboration Agreement was agreed in June 2016 and sets out the terms on which Fusion undertakes high throughput humanization of antibodies being developed by MAB, utilising the Company's CDRxTM platform. In recent months the Company and MAB have been in discussions intended to lead to a revised collaboration agreement which would provide greater clarity around the nature of services that Fusion is to provide MAB. \n \nThe discussions are continuing in good faith. However, as the existing Collaboration Agreement is only terminable annually on 31 December each year, providing not less than six months' notice, MAB has today provided notice of termination of the existing Collaboration Agreement, with effect from 31 December 2018. \n \nThe Board remain optimistic that there will be an ongoing relationship between Fusion and MAB, however, there can be no guarantee that the Company and MAB will enter into a replacement agreement. \n \n \nPaul Kerr, CEO of Fusion Antibodies commented: \"Fusion has strengthened its expertise in humanisation of rabbit antibodies through its collaboration with MAB Discovery. Working together, we have greatly reduced development times for highly specific, CMC-ready antibodies. We believe that there is potential for future revenues from our collaboration to date.\"\n \n \nEnquiries:\n \n\n\n\nFusion Antibodies plc\n\n\nwww.fusionantibodies.com\n\n\n\n\nDr Paul Kerr, Chief Executive Officer\n\n\nVia Walbrook PR\n\n\n\n\nJames Fair, Chief Financial Officer\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\nAllenby Capital Limited\n\n\nTel: +44 (0)20 3328 5656 \n\n\n\n\nVirginia Bull / James Reeve / Asha Chotai...