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I think jaarri has a point - it is however potentially likely that bigger CROS might want their technology to bolt into their existing capabilities. This is probably more likely so the likes of the Fair Journeys, Abcam, Abcelleras of the world.

Charles River bought distributed bio for their superhuman library in 2020/21 ish for around about $85m plus royalties. My understanding is that was a phage display library and fusion has that with Optiphage on a greater scale plus Optimal, arguably a much greater value proposition. So if they were willing to pay that 4 or 5 years ago what would this be worth?

Back in May, CEO Dr. Adrian Kinkaid told investors:

“Now that we know that OptiMAL works… the future for Fusion is extremely bright… we’re looking at step changes, not just incremental advancements. It’s going to be a significant inflection coming up.”

This week feels like the first signs of that inflection taking shape.

On Tuesday, Fusion announced that the US Patent for its OptiMAL® antibody library design has been issued – a major milestone in its largest geographic market. As the RNS put it:

“This patent provides Fusion with valuable intellectual property protection for its OptiMAL® platform, which can generate fully human antibodies with improved therapeutic potential.”

Kinkaid described it bluntly:

“Today is the issuing of the patent itself and the actual materialization of that journey… This particular patent covers the largest single market for antibody discovery on a geographical basis, so arguably it is the most important one for this application.”

On LinkedIn, Fusion highlighted why this matters:

“This patent recognises our intelligent, developability-filtered approach to antibody library design, one that moves beyond the limitations of random mutational libraries and theoretical diversity… OptiMAL® isn’t just another library, it’s a leap forward in design thinking for therapeutic antibodies.”

The company also confirmed on their hub that validation work with the US National Cancer Institute is progressing:

“We therefore know that OptiMAL® works, and are now working hard to assess how well it works to ensure it is commercially viable and how valuable a platform it is.”

And critically:

“We are working towards a formal launch of OptiMAL® as a commercial service.”

All of this comes while Fusion’s service business is growing at pace:

“We’ve made a 71% increase in revenues FY25 versus FY24.”

And with increased investor engagement cited as planned on the hub:

“We are also planning some other investor days… as well as at least two other investor presentations… considering an option of a further presentation in Belfast for our more local stakeholders.”

Patent protection in its largest market. Validation advancing. Revenues growing. Expanded investor engagement.

As Kinkaid said:

“The most exciting opportunity for growth is the OptiMAL platform.”

It’s hard to avoid the sense that Fusion is entering a very exciting phase.

“Key step towards rollout and growth”

https://x.com/fsnantibodies/status/1952658778501079098?s=46

“OptiMAL® isn't just another library, it's a leap forward in design thinking for therapeutic antibodies.“

https://www.linkedin.com/posts/fusion-antibodies-plc_fusion-antibodies-grant-of-us-patent-activity-7358429439648563203-jjt-?utm_source=share&utm_medium=member_ios&rcm=ACoAACft1F0BaVDaXIBn7r_8No_nNgqdtyRaz0w

“In the meantime, the patent is a significant value add to our IP portfolio, immediately adding value to the company.

We will also be updating investors on how we’re going to exploit these patents in commercialization of the various platforms which we’ll be promoting to the marketplace.“

This is just the start!! Very exciting

Watch the video - very clear there is more coming before December!

This is a big moment for Fusion. As CEO Adrian Kincaid put it on his hub video:

“The US Patent and Trademark Office has issued a patent… active today, the 08/05/2025.”

This isn’t just another filing — it’s for the core tech: “The patent covers the Opti library… the design of the Opti antibodies in various different formats… the human library is vast and covers 10 to the 45 different potential sequences… an enormous number.”

Crucially, “This particular patent covers the largest single market for antibody discovery on a geographical basis, so arguably it is the most important one for this application.”

And the value point is clear: “In the meantime the patent is a significant value add to our IP portfolio, immediately adding value to the company.”

Importantly, there’s more to come: “We will also be updating investors on how we’re going to exploit these patents in commercialization of the various platforms which we’ll be promoting to the marketplace.”

All eyes now on the next milestone: “The most notable of these stages will be the formal launch of OPTIMAL… targeting the Antibody Engineering and Therapeutics Conference in San Diego, USA in December 2025.”

Very strong video on their hub

https://investorhub.fusionantibodies.com/announcements/7088131

The Patent entitled "Antibody Library and Method", concerns the library of antibodies that is currently screened within Fusion's OptiMAL® platform, as well as the method for the design of additional libraries. This is key to Fusion's offering to provide "Opti" designed libraries for a range of applications including Antibody Discovery, Affinity Maturation, and Sequence Optimisation.

The Company is also progressing patent applications in respect of the OptiMAL® Library in several other territories worldwide including Europe, China and Japan.

Having secured the US patent, the Company is now targeting a scientific presentation at the Antibody Engineering and Therapeutics conference in San Diego in December 2025 and working toward a commercial launch of OptiMAL® at this event.

Richard Buick, CSO of Fusion, said: "I am really pleased that the U.S. Patent Office has granted the OptiMAL® Library patent application. This confirms our unique approach to antibody library design and protects Fusion's OptiMAL® antibody library for years to come."

Adrian Kinkaid, CEO of Fusion, said: "This good news arrives at an almost perfect point in time as we confirm the desired binding properties of antibodies discovered using OptiMAL® and as we prepare for the formal commercial launch of the service."

Agree - seems unwise when we know the period they’re entering into.

The technicals were showing as potentially overbought earlier this morning so a pull back and a bit of consolidation is probably a good thing in the long term for a continued rise.

I think this is a key selling point for them. The size of the library is massive. They also have mammalian display which Adrian described as noone else coming anywhere near 1% of what they can do.

Pfizer signed a licence deal with distributed bio in 2018 , I suspect this looks a lot like what Fusions model will…..except instead of 75 billion antibody sequences fusions library has this…..

“ a billion, trillion, trillion, trillion sequences.”

https://www.pharmasalmanac.com/articles/distributed-bio-announces-superhuman-platform-license-agreement-with-pfizer-inc

This is the type of players they’ll be able to play with

Agre I suspect we’lll either get an intraday or Wednesday update

US patent set to be granted which will create “represent significant value creation for the business”.

Exciting times - the question is what else might come with that RNS!

This was an answer on the hub in February:

“ The agreement with NCI covers the validation project and runs to November 2025. There would need to be a further agreement, such as a license agreement, in order for them to continue using OptiMAL®.

At this stage no other partners are actively testing OptiMAL®. It is our expectation that the value proposition for such potential clients could be significantly increased with a positive outcome form the validation study with the NCI so it is preferable to have this completed first.

Several potential partners have expressed their interest in OptiMAL® and we are progressing these discussions.”

So, they’ve partners lined up in discussions. They’ve stated the NCI validation would add a premium price, it’s all coming to conclusion, I wonder might we get a commercial launch RNS with a licence deal alongside when the time comes! Fingers crossed

A useful comparison for Fusion’s OptiMAL® is Charles River’s $83m (+$21m milestones) purchase of Distributed Bio in 2020.

That deal was for their SuperHuman™ phage-display libraries and computational tools – a strong asset, but one that still produced antibodies needing reformatting and humanization.

OptiMAL® is different. It’s a mammalian-expression library designed to deliver fully human, clinic-ready antibodies from day one, removing downstream engineering steps, improving developability, and allowing Fusion to command premium pricing, milestones, and royalties rather than just fees.

If validated through partnerships and licensing, OptiMAL® could be worth considerably more than the Distributed Bio acquisition…..

The question is for what price? Soo many assets, “worlds first” “revolutionary” mammalian display library? Or their own antibody assets? Or their existing service business or proprietary tech and AI platforms?

Any one of those could be a chunky price on their own - put it all together and you’ve got the golden goose here.

It’s a very exciting time for the business

“so would you, could you do something like Abselera for example who have got turnover of $375 million because they've been doing sort of licensing out their product for quite some time. How quickly can you catch them up?”

L We certainly do not rule out such a big licensing deal. I think it's probably more likely and certainly looking at today's market cap that a big pharma, rather than licensing it for the amount that it would be worth, would just come in and buy us.”

I understand that And that's why I can't understand why the valuation is probably less than the kit in your laboratory, plus the potential value of Optimal already.”

“ No, it confuses me as well. But that's one of the reasons why I work there. It's one of the reasons why I work for shares. And it's one of the reasons why I bought shares.”

January apologies!