Business
Trading update
Trading update.
About this update from Fusion Antibodies Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse (amendment) (EU Exit) Regulations 2019/310 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n\n \nFusion Antibodies plc\n(\"Fusion\" or the \"Company\")\n \nYear-end trading statement\n \nFusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, provides an unaudited trading update for the financial year ended 31 March 2025 (\"FY2025\").\n \nHighlights\n \n· Unaudited revenues for FY2025 of £1.96m (FY2024: £1.14m).\n \n· Achievements in the second half of FY2025 included:\n \no Future Medicines Institute (\"FMI\") grant funding was announced on 4 December 2024 providing access to approximately £1m of direct non-dilutive funding for the Company and access to other FMI assets including facilities and staff and access to up to £5m of new capital equipment;\n \no Further purchase orders received under a master services agreement (\"MSA\") with a leading diagnostics company;\n \no Cell line development project received with a US based biotechnology client announced on 27 February 2025;\n \no Positive momentum in the ongoing collaboration agreement with the National Cancer Institute (\"NCI\"):\n \n§ The collaboration agreement was extended to include the humanisation by Fusion of several of the NCI's existing camelid nanobodies;\n \n§ Receipt of positive cells (\"hits\") from the NCI for the use of OptiMAL®;\n \n§ The Company reproduced the evaluation of the initial hits confirming their positive nature with regard to the OptiMAL® platform; and\n \n§ The resynthesis of OptiMAL® antibodies encoded by DNA from hit cells, which has shown positive binding in multiple established assay formats. Validation work is continuing.\n \n· Equity fundraise announced on 18 March 2025, raising approximately £1.17m (before expenses) for additional research and development (\"R&D\") work primarily related to the validation of ...