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FAB news to see on this Monday morning, should be nothing holding back the NCI contract now they get back up and running. Be interesting to see how quickly they turn it around, give us an indicator of its strategic importance maybe!

Have to remember the NCI contract will be linked to the US govt shutdown ending.

The company clearly getting lots of grant funding in which is reducing costs. The NOMAD wouldn’t sign off the statement about runway into FY27 unless they could demonstrate it was true. perhaps they are expecting licence agreement and payment for their optiphage technology

Give the company have said they don’t intend to raise as they are on track with their strategic plan it’s irrelevant Alice.

Fusion’s latest RNS confirms that its OptiMAL® platform has successfully generated high-affinity antibodies against peptide targets as well as full proteins, in collaboration with the US National Cancer Institute (NCI).

This could prove commercially significant. Peptides are cheaper and faster to synthesise than full-length proteins, meaning clients could start projects more quickly and at lower cost. The difficulty according to the RNS has been that peptide antigens often yield poor-quality or low immune responses to generate antibodies — but OptiMAL® now appears capable of overcoming that.

For clients, this could mean a faster, more affordable route to discovery with strong antibodies against a wider range of targets, including those that were previously difficult or uneconomic to pursue. It could also make Fusion a more attractive partner for therapeutic and diagnostic developers.

The NCI’s decision to extend its use of the platform suggests confidence in the results. If Fusion can now translate this into consistent commercial projects, OptiMAL® could also evolve into a cost-efficient, differentiated platform ahead of its planned commercial launch in December 2025.

Https://www.linkedin.com/posts/richardbuick_antibodyengineering-antibodytherapeutics-activity-7391049136302874624-kl5M?utm_medium=ios_app&rcm=ACoAABco24sBUkwbTXhwVSpN62H8TEq_QQyy_2M&utm_source=social_share_send&utm_campaign=copy_link

“The latest developments provide us with a more solid foundation with which to address a wider market and positions OptiMAL® as the potential front line discovery platform of choice for human therapeutic antibody discovery.”

Positioning this as the number 1 platform …bold statement! Very exciting

Today’s RNS marks a huge step forward for Fusion. OptiMAL® has now been proven to generate high-affinity antibodies against peptides as well as proteins – extending the platform’s reach across one of the most technically challenging and commercially valuable target classes.

This achievement broadens Fusion’s addressable market and underlines years of focused R&D to refine and validate the OptiMAL® mammalian display platform. The data will hopefully strengthen Fusion’s position as a credible, next-generation discovery platform rather than just a service provider.

The US National Cancer Institute’s request to extend its use of OptiMAL® beyond the current agreement is a clear external endorsement and a major vote of confidence.

Importantly, Fusion remains on track for the commercial launch of OptiMAL® at the Antibody Engineering & Therapeutics Conference in San Diego this December – the leading global event for antibody discovery.

This is where the company begins the transition from scientific validation to commercial rollout.

Exciting times ahead for Fusion Antibodies.

I found this interview the company did whe the NCI collab was initially announced 2 years ago. The talk about what it would mean if it was a success was pretty great…..and here we are, it’s worked, the NCI want more….described as a company maker if it worked outback then…hopefully that comes to pass soon.

https://youtu.be/8LiCjaamoPc?si=a0KagEpCZM7tY5YJ

That presentation reminded me that it’s only 7 weeks until they launch Optimal at the Antibody engineering and thereapeutics conference in San Diego.

From the website you can see why they are targeting this event:

“ As the flagship conference for antibody science and innovation, it brings together the world's leading academic and industry experts to share research, technology advances, and therapeutic breakthroughs. It's recognized as one of the top antibody engineering conferences for accelerating next-generation antibodies to commercial success.”

“ It also serves as the annual meeting of The Antibody Society, whose members are responsible for designing the scientific program and acting as session chairs.”

Presenting on day 1, their CSO session details are as follows

“ OptiMAL™: Mammalian Display of a Human IgG Library for Discovery of Novel Antibodies

OptiMAL™ represents the World's first platform using a fully synthetic human antibody library that can be screened using Mammalian Display in the native IgG format. The results shown will demonstrate that this platform can be used for the discovery of antibodies with high specificity, developability and yield, in a competitive timeframe. Followed by the knowledge that a rationally designed synthetic library can out-perform more traditional library design methods.”

https://informaconnect.com/antibody-engineering-therapeutics/agenda/2/

Timbo on advfn sensibly points out that this minor rebalancing by Maven is part of their overall shift away from AIM to private.

A minor rebalancing of their portfolio for fab is nothing compared to much larger exits that they have made from other companies in the last few weeks (sosandar, life safe holdings, aurrigo amongst others).

Re late filing of rns the disposal took place on friday and was reported on Monday within the timeframe allowed.

Timbo quote

“ In this instance I think the most likely reason is a change in manager back in May this year.

The selling fund, Maven Renovar VCT is now managed by Maven, before Maven took over the management, the fund was known as Amati VCT managed by Amati Global Investors. Therefore you would expect some adjustment in portfolio composition, particually as Amarti invested exclusively in Aim listed companies, whereas Maven's investment strategy is a hybrid model investing partly in unquoted companies and partly in Aim quoted companies”

Https://www.linkedin.com/posts/qub-civic-engagement_yesterday-we-had-the-privilege-of-welcoming-activity-7387048084599570432-2x0S?utm_source=li_share&utm_content=feedcontent&utm_medium=g_mb_web&utm_campaign=copy

Good profile raiser!

The prestige and marketing value of the deal with NCI alone will be worth it for the company in my view. NCI are a public research organisation who are spinning out stacks of assets so the long term value could be significant if they can lock in future entitlements.

Suspect the follow up deals from the launch from big biotech/pharma commercials will yield greater up front $.

We’re about to jump on the train for what could be the start of a hell of an exciting journey. This is nearly a decade of r&d coming to fruition.

Https://www.futuremedicinesinstitute.com/news/vwqzd7c5yc3nbss2oopvsodb9lt7bw

Very wide advertised spread this morn despite the bid being 14.48 and ask 14.8. Games I say….games 😂

There were some decent buys before the closing bell yesterday. Hopefully a good few days and as humps says a very broad range of news items that could flow in ahead of December.

Https://shardcapital.com/capital-markets/corporate-broking/research-portal/

Meanwhile, the company are attending a big conference this week presenting two posters including on Optimal!

https://www.linkedin.com/posts/fusion-antibodies-plc_elrigdd25-drugdiscovery25-biotech-activity-7384574416040439808-rnVO?utm_source=li_share&utm_content=feedcontent&utm_medium=g_mb_web&utm_campaign=copy

“ on plan with our strategic goals including the launch of OptiMAL® in December which we believe will herald a new stage in the Company's development and open up new markets and revenues."

Unaudited revenues for HY26 were approximately £838k (H1 2025: £1.2m, FY25: £1.96m). Whilst down on the prior year H1, they represent a notable increase on the second half of last year (H2 2025: £755k) and, unlike last year, we anticipate an even stronger performance in H2 supported by our robust existing order book, promising sales opportunities pipeline and better market sentiment. Unaudited gross margin for the period was 30%, compared to 22% in the prior year which reflects our improved operational efficiency and our ability to create value. Cash as at 30 September 2025 was £251k and is tracking in line with management's expectations.

"During the period, the Company achieved a significant milestone with the grant of our US patent covering the OptiMAL® library design and method and has continued our collaboration with the National Cancer Institute ("NCI"). The collaboration has generated a strong performance of OptiMAL® and resulted in the NCI's desire to continue to use the platform for more of their antibody discovery projects over the coming years.

"Among a range of new contract wins, we were selected to develop a stable cell line for a US based biotechnology company and were awarded multiple contract wins for humanisation projects with divisions of major pharmaceutical companies, further demonstrating our recognised expertise in antibody engineering. Investor and stakeholder engagement has been significantly strengthened through a series of investor presentations including face to face meetings in London and Belfast as well as further development of the interactive investor hub at investorhub.fusionantibodies.com.

"Cash continues to be carefully managed and, as set out in the Company's FY25 results announced on 4 September 2025, based on internal estimates the Company has a cash runway into FY27 and remains on plan with our strategic goals including the launch of OptiMAL® in December which we believe will herald a new stage in the Company's development and open up new markets and revenues."

St1 I had a very small holding years ago have a very healthy profit right now having taken the opportunity to further invest as developments have progressed.

I don’t disagree there are ifs and conditionals in my statements below that’s why I’m staying put here for the potential of growth.

Nothing is guaranteed and that’s where you have to balance the potential risk v reward.

Allenby called out the need to place in 2023. They have not yet done so for the coming months and so I’m content to add their commentary as another factor to my own research at this point.