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Some interesting comments on that LinkedIn post. One from business development manager at Eurofins who is excited to see the outcome. They’ve got a strategic partnership with Eurofins discovery which is still ongoing. For context Eurofins group revenues in 2024 were around €7bn. I wonder whether Optimal might be a neat fit to their service offerings and with all the talk on these forums about buyouts and takeovers whether another CRO like Eurofins bolting on their assets might be one of the more likely scenarios. If it is, having an existing strategic partnership as your flagship comes to market might be quite handy! It’s nice to speculate obviously just thinking. DYOR

Https://www.insidermedia.com/news/ireland/improved-results-at-fusion-antibodies-as-firm-emerges-from-survival-mode

Https://www.linkedin.com/posts/fusion-antibodies-plc_fusionantibodies-fab-biotech-activity-7369370291388444672-XhFL?utm_source=share&utm_medium=member_ios&rcm=ACoAABco24sBUkwbTXhwVSpN62H8TEq_QQyy_2M

“This patent is more than recognition, it’s validation of the innovation driving OptiMAL® forward.”

But there’s a London investor meet on 17th they preannounced last week. Lots of events

Https://ukinvestormagazine.co.uk/aim-movers-potential-extended-use-for-shield-therapeutics-accrufer-iron-deficiency-treatment-and-ex-dividends/

Fusion Antibodies (LON: FAB) improved full year revenues from £1.14m to £1.97m and there was an increase in the sales pipeline opportunities in the second half. The company is transitioning from a service provider to a technology licensor. The share price fell 7.35% to 15.75p.

A few golden nuggets in the final results in my view:

- growth to 33% of revenues from diagnostics one of the new sectors

- first real signs of interest from veterinary market

- board no longer taking remuneration in shares only cash so they must not be as concerned about cash levels.

- they’ve announced they also have a collaboration with a company called Finn Therapeurics who are developing an antibody against RAMP which is protected by a fusion patent. They’re seeking additional grant funding in next 12 months for this.

-they’re starting two FMI projects and seeking phd student at no cost to the company but creating important opportunities for their development

- NCI are submitting patent applications for the antibodies discovered using Optimal.

- able to win cell line contacts in a very competitive environment

- market anticipated to grow significantly. Moves in the market make humanisation even more challenging thereby strengthening the business case for Optimal.

- “using optimal technologies to positionthe company for a transition from service provider with repeat business to a technology licensor with recurring revenues”

Conclusion

In conclusion, I firmly believe that Fusion has the proven capabilities, track record and an improving business performance to provide the Company with a stable foundation from which to launch groundbreaking disruptive technologies. In my opinion, the most significant of these is OptiMAL® complemented by the underlying mammalian display and the Opti-library, which is also applicable to phage display. The range of services we offer our clients is increasingly comprehensive and highly complementary to diverse antibody development strategies positioning us well to continue to gain traction with a broad client base across Therapeutics, Diagnostics and Research antibody sectors. The year ahead is an exciting one for the business. We will continue to support our existing client bases, appeal to wider markets through technological differentiation which provides significant benefits to our existing and new clients. We will also use the OptiMAL® technologies, and such assets as may be available, to position the Company for a transition from a service provider with repeat business to a technology licensor with recurring revenues

Results prttty much as expected, the gold is in the detail:

NCI:

As significant as the FMI grant is for the business, progress made this year with our flagship OptiMAL® platform has far more potential. Due to the rescaling of the business in the previous financial year, our internal R&D resources had been significantly reduced. It was therefore hugely advantageous to have the collaboration agreement with the National Cancer Institute USANCI), announced toward the end of November 2023, to pursue the validation of the platform at minimal cost tothe Company. The Director of the Antibody Engineering program at the NCI is Dr. Mitchell Ho: our principal point of contact.Mitchell is a highly respected world leader in both mammalian display and antibody generation. The work undertaken throughthe collaboration has demonstrated the utility of the OptiMAL® platform and that it can be used to identify cell-boundantibodies for a range of targets. Many of these antibodies have been isolated and verified by Fusion and the NCI is now seeking to demonstrate their functional utility. We look forward to further updates from the NCI and once this work is complete, patent applications filed, peer reviewed publications submitted and to their independent statements which we are confident will formally validate OptiMal

On 7 April 2025, at the Company's general meeting, all resolutions in connection with the issue of the 8,416,020 second tranche placing shares were approved. As a result, the 8,416,020 second tranche placing shares were issued and admitted to trading on AIM on 9 April 2025, completing the approximately £1.17m raise (before expenses). This cash boost at the start of FY2026, along with the first FMI grant payments, positions the Company well for the current financial year.

 

On 24 April 2025, the Company announced the approval of an Innovate UK Launchpad grant led by the Company in collaboration with Queen's University Belfast ("QUB") to develop a humanised antibody targeting and activating the DR5 protein on cancer cells for the treatment of cancers. The total funding being made available under the Grant is over £808k, with up to £545k expected to be provided to Fusion over a period of approximately 18 months.

Suddenly shooting up here, something afoot in the background perhaps - large delayed late maybe

Readout would be welcome. The next one at proactive on 9th October. They’re usually recorded and publicised a week or so after on YouTube

Https://youtu.be/h370dmBSjxM?feature=shared

54:56 minutes in says it all:

“ This period that we're going through now and finding out now that we know that Optimal works, quite how well it works, puts us exactly on plan and on track for where we wanted to be. The financial figures, the revenues that we've reported on here, albeit unaudited, are exactly on track for where we said that we would be in the analyst forecast as well.”

“ So it's an excellent time for the business. We need to keep it on track, keep moving things forward. And if we can do that, which we fully expect to do, the future for Fusion is extremely bright. And we're looking at step changes, not just incremental advancements. It's going to be a significant inflection coming up, I hope, for the business.”

They have plans for a stack of investor engagements this moth. Depending on what news we get between then and now can see that generating some significant interest and potentially creating the next move

Ha yes didn’t last the test of time that one I’ll admit! But good to see some big trades showing up delayed

Love your confidence Vick! Will be very interesting to hear the latest from the company at the upcoming events and in their forward look. Lots to update on they’ve got a lot underway

Good to see this bouncing off the dip this morning. Positive times ahead so clearly some taking advantage of the dips

Agreed this is a long term play but one that demonstrates thebreadth of value I suppose: they’re not just a service business they’re building their own assets.

I did rewatch the CSOs video on it there which gives a lot of information additional to the RNS and is worth a watch here.

https://investorhub.fusionantibodies.com/activity-updates/deep-dive-series-dr5

In summary and based on what the CSO says:

🔹 DR5 is a known cancer target – big pharma players like AstraZeneca, Genmab & Genentech have programmes in trials, though no approved drugs exist yet. Some have reached Phase 3, showing interest in the space but also the challenges.

🔹 The scientific hurdle – DR5 needs “trimerisation” (3 receptors clustering) to trigger the cancer cell death cascade. Most antibodies can’t do this naturally, so pharma has engineered complex formats or used external proteins. Several candidates were discontinued in Phase 2 because of this.

🔹 Fusion’s approach – according to Richard, their antibody triggers trimerisation naturally, without engineering or crosslinking. In Fusion’s own head-to-head tests, it showed stronger tumour-killing activity compared to discontinued Phase 2 candidates.

🔹 Grant-funded development – over the next 18 months Fusion will:

• Humanise the antibody (make it patient-ready)

• Develop a GMP-compliant stable cell line for manufacturing

• Conduct in-vivo efficacy studies with Queen’s

🔹 Next steps – the aim is to have a clinic-ready antibody asset at the end of the project. Richard noted that Fusion does not plan to run trials themselves, but that such an asset could be taken forward by pharma or biotech partners, and the work also strengthens Fusion’s service offerings in humanisation and cell line development.

👉 key message: the grant provides a pathway to advance a differentiated DR5 antibody that addresses the main challenge where others have struggled, in a field where major pharma is already active.

Https://www.lse.co.uk/rns/FAB/trading-update-c7lmy91s0t6r8i2.html

Was a very positive update in May that gave most of the info.

The more positive is that we know margins will be even better now with the grants in play so h1 should be even more profitable assuming revenue growth continues as analysts predicting.

Exciting times ahead

Talking about Adrian’s motivation being Optimal, some Interesting director buying patterns from him….

- Trading update on 6th May 25 - he bought 100k same day.

- AGM and trading update on 8th October 24 -he bought 83k a week later.

- Finals 5th September 2024 - he bought 120k same day

- Interims 4th December 2023 - he bought 102k same day

What will we see come finals next fortnight?

Perhaps big buys at this price despite having options available much cheaper like the last time?

Could no action mean maybe they’re still inside on something big?

Naughty naughty Alice sell quotes are available. Low life