Fusion Antibodies reports second-half rebound as new commercial strategy pays off
London, UK
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May 09, 2024 06:41 AM Eastern Daylight Time
Fusion Antibodies PLC (AIM:FAB) CEO Adrian Kinkaid joined Proactive's Stephen Gunnion with more on the company that specialises in various stages of antibody development, excluding GMP production for clinical trials.
He described Fusion Antibodies as a collaborative research organisation that engages deeply with clients to develop therapeutic antibodies, one of the most complex scientific endeavours. Its client base includes small VC-funded biotechs and has expanded to include large organisations like the National Cancer Institute. Fusion Antibodies also explores adjacent markets such as diagnostics, family medicine, and veterinary medicine.
Recently, the company faced economic challenges, particularly a decrease in venture capital for biotechs, impacting its core business. However, it responded with strategic diversifications and cost management, leading to a 47% increase in fourth-quarter 2024 sales compared to the first quarter. The order pipeline at the year's end was significantly stronger at £750,000, promising a solid foundation for future growth.
Kinkaid noted that Fusion Antibodies has secured various agreements, including a notable collaboration with the National Cancer Institute to employ their OptiMAL technology platform for discovering human antibodies. This platform could potentially lead to multiple licensing opportunities due to its vast diversity.
Additionally, the company raised about £1.37 million, which will fund growth initiatives, including expanding its commercial team to better reach its primary market in the USA.
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