Member Info for gtc1507

Proactive Investor conference last July.

https://youtu.be/IAvbf90GgvQ?feature=shared

About 30 minutes in to be precise :)

Agree Sean. You could feel the excitement brimming in Adrian’s voice at the last investor meet. Like a champagne bottle that’s been shaken and is ready to pop!

With £0.9m pro‑forma cash at year end, new grants, and improving revenue, brokers believe Fusion has runway out the back of FY26, lowering the near‑term likelihood of another discounted raise. The last raise was at zero discount and very heavily subscribed by VCT.

They said very clearly they’ve landed a stack of the £1m FMI grant which is also claimed in advance of costs quarterly so regular income which is very cleverly designed and will heavily improve margins also further reducing cash draw.

CEO has said no raise is needed to get them to breakeven and that they could have achieved cash neutrality without the raise for Optimal development anyway. The company is clearly in a significantly better position and he also said the sales pipeline was tremendous and they had strong work in progress booked at end of FY25 in a video on their hub attached to the year end trading update.

They also had some revenues slip into this quarter apparently from last year so revenues will hopefully be very strong. Sentiment in the sector seems to be much better also.

This is all in their bread and butter business though, if they land a licence deal for Optiohage or a premium contract for their new flagship contract they’re laughing straight to profitability in my view. Very exciting time.

Fusion also has Hidden Catalysts Under the Radar

1. OptiPhage™ Licence Decision hopefully Coming

Fusion’s first OptiPhage™ contract with a global research reagents firm includes an exclusive licence option still live. If exercised, it could become Fusion’s first true platform licensing deal — likely delivering upfront income and royalties. This model could scale across multiple non-competing sectors using the same core antibody library asset.

2. Milestone & Royalty Pipeline

Fusion now participates in milestone/royalty-bearing agreements, a shift from pure CRO work. Key programmes like their anti-DR5 cancer antibody (co-developed with Queen’s University Belfast) could deliver downstream payments if partnered or commercialized. According to the previous CEO Paul Kerr At IPO, these assets were conservatively valued at zero – any real-world success could generate significant upside.

3. AI Collaboration with Oxford & Government Strategy

Professor Charlotte Deane, a renowned structural bioinformatician at Oxford and Executive Chair of EPSRC, sits on Fusion’s Scientific Advisory Panel. She was recently appointed to the UK government’s AI for Science expert panel and co-leads the OpenBind consortium to generate large-scale protein-ligand interaction datasets for AI drug discovery efforts . Fusion’s link to Deane and Oxford’s OpenBind initiative positions the company at the forefront of AI-driven biologics research, bolstering its credentials in antibody design innovation.

4. Global and Cross‑Sector Client Reach

With over 200 antibody projects completed, Fusion works with 8 of the top 10 global pharma companies as well as virtual biotechs, diagnostics firms, and veterinary clients. Their ability to humanize, felinise, or caninise antibodies expands their addressable market. This diversified footprint not only provides resilience but also broad avenues for licensing or royalty income across sectors.

Why these matter: None of these catalysts appear to be baked into the current ~£12.5M valuation. If even one of the above developments (OptiPhage licence, royalty payments, licensing of proprietary libraries, or commercial leverage of AI) begins to materialise, it could offer substantial upside — well beyond routine CRO revenue growth.

Fusion Antibodies (AIM: FAB) might be stepping out of the shadows. At 11p (≈£12.5M market cap), this Northern Irish biotech/CRO trades at levels that don’t seem to capture its recent progress – and there’s been a lot of it.

1. OptiMAL Works – Proven by the US NCI

Fusion’s flagship OptiMAL® platform has now been independently validated by the US National Cancer Institute, one of the most respected names in oncology research. CEO Dr. Adrian Kinkaid put it plainly: “We know now that OptiMAL does work, which is a tremendous technological step forward.” That’s a strong endorsement for a platform designed to generate better, faster therapeutic antibodies.

2. Patent Protection Locks It In

The US Patent Office will grant Fusion’s patent covering its antibody library/design method on 5 August 2025. This IP, also being pursued in the EU, China, and Japan, strengthens the company’s hand for licensing discussions and partnerships.

3. Grants & Growth

FY2025 revenue hit £1.96M (up 73% YoY), with margins improving from 2023 lows. Fusion has secured over £1.3M in non-dilutive funding – including £1M from the Future Medicines Initiative and £808k for its DR5 cancer antibody programme (a co-owned asset with out-licensing potential). Management believes these resources could support a path to breakeven by 2026.

4. Momentum Is Building

The share price has climbed ~60% in 3 months and 200% over 12 months, trading near 52-week highs. Volume is rising, and chartists are flagging bullish setups.

Of course, it’s not without risk. Fusion is still loss-making, and monetising OptiMAL or its in-house assets will take time. But the combination of external validation, patent protection, improved finances, and grant-backed R&D has changed the conversation.

Bottom line: After a few years of frustration, Fusion finally has proof points and the resources to move forward. If it can convert OptiMAL’s validation into commercial deals or licensing, this tiny £12.5M company could look very different in 12–24 months.

Watch the latest investor meet company. The fundamentals are improved, they’ll be granted US patent on Tuesday, they’ve just proved their Optimal platform works which is the key to driving up revenues and switching to a licensing model and they’re landing good grants to smash up margins. Boone with sense will be dumping this it’s just about to start kicking off in my opinion. Long overdue rerate

Https://x.com/thesaintcharts/status/1951617483888009478?s=46

Interesting prediction here.

Plenty of demand - great to see. The company have turned this around really well. we’re entering the period where the years and years of r&d are going to start propelling us upwards hopefully. Onwards and upward from the 2023 challenge and into the step changes of the future! Come on fusion!

Def being held back by the mms here. No trade and then jumps into the mid 11s above the 30k

Currently NT to buy. think we might get a good run up before close today and before next week!

They’ve said this will be their premium product! I’d say once they’re landing some contracts on Optimal profitability will be very soon and we’ll be in a different league! Very exciting time for the business as Adrian says

“Fusion Antibodies stands at the forefront in novel technology platform development and is actively seeking further out-licensing partners for our Naïve Human library and Mammalian Display technology – OptiMAL®“

Actively looking for licensing agreement partners at Bio conference!! That’s huge and they wouldn’t be doing that if they couldn’t see the commercial value.

https://fusionantibodies.com/events/bio-international-convention-2025/

So the patent is for the antibody library design underpinning Optimal and the method for designing additional libraries. That seems pretty comprehensive.

A core foundation for their optimal platform before go live. You can see why Adrian was getting so excited about the period they’re entering

Feels like we might have a FAB FOMO Friday on our hands

#desperate for the shares

“we are excited to have taken a further step toward this important milestone which we believe would represent significant value creation for the business."

Significant value creation for the business landing on 5th August. Be very interesting to see how they launch this as well as if there is anything linked to it.

I suspect/hope we’ll get an rns either Tuesday or Wednesday that confirms the grant and give us as a good update on the R&D .

Ideal scenario is that the patent unlocks a deal on the Optiphage

With £0.9m pro‑forma cash at year end, new grants, and improving revenue, brokers believe Fusion has runway out the back of FY26, lowering the near‑term likelihood of another discounted raise. The last raise was at zero discount and very heavily subscribed by VCT.

They said very clearly they’ve landed a stack of the £1m FMI grant which is also claimed in advance of costs quarterly so regular income.

CEO has said no raise is needed to get them to breakeven. The company is clearly in a significantly better position and he also said the sales pipeline was tremendous and they had strong work in progress booked at end of FY25 in a video on their hub attached to the year end trading update.

They also had some revenues slip into this quarter apparently from last year so revenues will hopefully be very strong. Sentiment in the sector seems to be much better also.

This is all in their bread and butter business though, if they land a licence deal for Optiohage or a premium contract for their new flagship contract they’re laughing straight to profitability in my view. Very exciting time.

Would encourage all to watch the investor meet company on YouTube from May and do their research rather than paying heed to someone bored and just dropping the word placing with no evidence.

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

Ops well caught darkryder! On the royalties point Adrian has said that OptiMAL will enable Fusion to charge a premium and command stronger terms on deals, including milestones and royalties.

It’s worth recapping what we already know about their existing pipeline of such agreements — and I’ll be asking for an update on this at the next Investor Meet.

In an investor video in 2021, Paul Kerr explained that Fusion had built up a portfolio of milestone/royalty “carries” on client projects. At that point:

• 11 antibodies were already in the clinic (Phase 1–2) — a success rate of 1 in 3 from their first 33 projects.

• ~25–26 additional carries had been created from more than 100 humanisations in 2019–20.

• Milestones ranged from £100k for early-stage triggers to low single‑digit royalties on drugs that could be worth $1bn — meaning $10–20m+ per success.

He said this at the investor met company on 23 nov 2020 https://www.investormeetcompany.com/meetings/interim-results-presentation-1

In a video in April 2021 he said potentially £30-40m if all the royalties and milestones came off. https://youtu.be/LzE8EeQLstk?feature=shared 49 minutes in.

We have to acknowledge that there will always be scientific attrition, but many of these assets could still be in play.

If even a handful succeed, the payoff for Fusion could be transformational — turning these long‑gestation projects into a major revenue stream alongside their core services and new OptiMAL‑powered deals.

When you step back from the day-to-day share price, they’re actually sitting on a surprisingly broad set of assets that mean they’re not a one trick pony and any one could catapult their valuation:

- Proprietary discovery platforms

- OptiMAL

- Optiphage

- existing Pipeline of potential milestones & royalties potentially worth tens of millions.

- existing licenced out Therapeutic antibody assets

- DR5 antibody

- consortium membership and perks

They’ve got multiple shots on goal - many shining lights which could attract many different types of buyer.