Member Info for gtc1507

Did you manage to get yours filled? Looks to be being held back here

Buys at 7.7 yet to sell it’s higher! Games being played by the MMs now they’ve been caught out. Have to take the lid off surely

It’s 4 v 2 7.5/8 at the moment! I’d say you’d be looking in the low 8s for that amount!

Zak mirs commentary:

“Onto FAB, otherwise known as Fusion Antibodies. And here the idea that we’ve broken out of that triangle there at 6.5p and could head up to the top of the range 11p is still alive — very much alive — with today’s price action.”

“There is a bit of resistance around the 7.5p area, so a weekly close above that today would be a good sign and could suggest that we’re ready to head up to the 10p area.”

“Got the 50 and 200 day lines both rising in parallel at the moment, which is the equivalent to a golden cross. So looking very good indeed, especially as we’ve had that little RSI bounce at 60 as well. That should hopefully indicate we are on our way to a 10p+ target.”

“Punchy call, but we’ve been in consolidation for a long time below 6.5p, and the top of the triangle there really delaying the upside scenario.”

In late 2023, Fusion Antibodies secured a landmark agreement with the US National Cancer Institute (NCI) — the leading federal body for cancer research — to independently validate its flagship antibody discovery platform, OptiMAL®.

The collaboration marked a major milestone. As CEO Adrian Kinkaid put it:

“We couldn’t really wish for a better partner… the NCI are expert in mammalian display… really know what they’re talking about.”

Fusion granted the NCI up to two years of free access to run OptiMAL in their own labs on real cancer targets. The agreement was cash-neutral at the outset, but Fusion noted at an investor meet in December 23:

“If they want to extend… there would certainly be fees involved.”

Now, as the term approaches its end, Fusion has confirmed that validation is progressing successfully. In July 2025, the company stated at an Investor meet:

“We know now that OptiMAL does work, which is a tremendous technological step forward.”

“The NCI have identified… a significant number of positive cells… Fusion have reproduced those findings.”

OptiMAL is now proven to operate outside Fusion’s own lab — a critical step that opens the door to future licensing. Peer-reviewed co-publications with the NCI are also on the table, which Kinkaid described as:

“The best marketing collateral we could wish for.”

If momentum continues, this collaboration could help support Fusion’s transition from a pure-play CRO into a platform-based business model with longer-term IP and licensing opportunities, with an endorsement from the US NCI in their back pocket.

As Zak Mir asked in December 23,

“If everything goes well, it will be a company maker for Fusion Antibodies?”

“Yes… it’s not the only thing that we have… but as I said earlier, it’s our flagship.”

I really hope they can pull this off because it could be brilliant!

Fusion announced in its 22 May RNS that its U.S. patent for the Opti libraries had received a Notice of Allowance and was expected to be granted following administrative steps and fee payment.

According to the link Chris shared to the public USPTO Patent Center — the issue fee was paid and the application was dispatched to the Final Data Capture (FDC) unit on 23 June.

A quick bit of research suggests that the average processing time from FDC dispatch to official grant is typically 3–5 weeks.

That puts us, in my view, right in the window now — meaning an official grant and potential announcement could land any day.

Securing patent protection in the U.S. — the world’s largest pharmaceutical market — would, in my view, significantly strengthen Fusion’s ability to license and defend its platform commercially.

This is why I’m excited, this landing at a really great time for the company would be good news! Hopefully it plays out!

I wonder what Adrian meant when he said there’s more to come and that he had more tricks up his sleeve at the investor meet. Wonder are they plotting new technologies or partnerships. Only time will tell. In the meantime it would be great to see how the margins have improved in the accounts which are due soon

Obviously there is risk with any decision, but having watched the latest investor meet in firmly of the view that they’re entering a really exciting period. Would encourage anyone to watch the May investor meet company and make your own mind up. I feel comfortable with the risk reward balance weight now

Suggest starting twit these

https://wp-allenby-2020.s3.eu-west-2.amazonaws.com/media/2025/05/20250506-Fusion-Antibodies-plc-FAB.L-Allenby-Capital-Update.pdf?c4726=on

https://shardcapital.com/capital-markets/corporate-broking/research-portal/ Select for fab here.

Some great notes and you’ll pick up plenty on this forum Llama some really quality research posts

Hopefully soooner than we think!

The FMI is class Chris, Adrian was brimming about it.

Some investors may have missed just how important the FMI is for Fusion. A few key points worth flagging:

✅ Fusion is at the centre of a multi-million pound (£55m) initiative hosted by Queen’s University Belfast. As the CEO put it:

“Fusion is only one of many partners…but we do play a central part in that consortium.”

✅ 10 fully funded PhD projects have just been launched focusing on AI, antibody discovery, and next-gen biologics—all areas where Fusion is a key contributor. This means a pipeline of cutting-edge research, fresh talent, and new IP.

✅ Access to ~£5m worth of state-of-the-art equipment, available to Fusion without having to sink capex themselves—accelerating delivery and strengthening their service offering.

✅ ~£1m in non-dilutive funding supporting platform development, taking pressure off working capital. As the CEO said:

“It really does help us to make the most of the resources we’ve got.”

✅ Credibility and marketing upside: Being central to the FMI boosts Fusion’s profile with large pharma and biotech clients, supports commercial discussions, and drives visibility through high-profile publications.

In short:

• Less cost, more technology

• Faster progress on Optimal and OptiPhage

• Stronger pipeline of expertise and assets

• Enhanced reputation to help land big clients

One to watch over coming weeks and months as the FMI projects get underway.

Over the coming weeks and months, Fusion looks set to deliver a series of milestone events that could mark a major inflection point in its trajectory.

From the CEO’s own words—“It’s an excellent time for the business… we’re looking at step changes, not just incremental advancements”—the company is entering what could be a transformative period.

While timelines in biotech can be subject to scientific and regulatory factors, the next phase of developments could include:

• The likely grant of US patents protecting the Optimal and OptiPhage libraries, cementing Fusion’s proprietary position in critical markets.

• Audited FY24/25 results demonstrating strong revenue growth, improving margins, and a forecast cash runway extending well beyond FY26.

• Final validation data from the prestigious National Cancer Institute proving that Optimal works independently—a crucial foundation for licensing. As the CEO confirmed: “We know now that Optimal does work which is a tremendous technological step forward.”

• Peer-reviewed publications and the formal commercial launch of Optimal, expected to accelerate engagement with large pharma and biotech and open the door to large revenue generating licence agreements

• A live evaluation window with a client considering an exclusive OptiPhage licence.

• The ramp-up of multiple groundbreaking FMI projects, backed by £1m in grant funding and £5m of capital equipment, with Fusion in a leading role.

• Continued progress on the grant-funded DR5 cancer antibody asset which aims to be licenced out to someone to take through clinical trials in less than 18months.

If Fusion executes as planned, this period could unlock significant value and position the company as a genuine innovator in antibody discovery and engineering.

The ceo has been buying in the open market when he has cheaper options available to him. Sign of confidence clearly. Those who haven’t watched the latest investor meet should do so. Link below some absolute belting confidence from him

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

Https://zakstraderscafe.com/bulletin-board-heroes-july-16-2/12281/

Vick the share price was happily sitting in the 100-200p range when fewer shares were in issue a revenues were closer to £4m but they hadn’t got any of the tech developments they have today. The MCAP around 30-40m to me feels like whew they should be today naturally - throw in the world class optimal platform and still feels likes there should be a substantial uplift. One of their competitors is offering mammalian display. But as Adrian says, none comes even close to 1% of the scale that FAb Can offer it on….and that competitor is valued around €900m. Do the maths about where FAB is going……and in my opinion sooner than we think.

Thanks Evman, great post. Reminds me of an often overlooked part of fusions business.

In a 2021 investor interview, then-CEO Paul Kerr detailed a part of Fusion’s business many investors overlook: its growing portfolio of milestone and royalty-carry antibody programs.

At the time, Fusion had:

• Deliberately assigned no value to these carries at IPO in 2017, to avoid overpromising on projects that typically take 10 years to reach approval.

• Already progressed 11 out of 33 early antibody programs into the clinic, with some advancing into Phase 2 trials.

• Amassed 25–26 milestone-carry projects, with potential payouts ranging from £100,000 milestone fees to low single-digit royalties on drugs that could generate up to $1 billion in sales—meaning $10–20 million per successful candidate.

• Expressed confidence that the first milestone payments would start to crystallise in the following financial years as these candidates moved closer to market.

Since then, time has moved on, and those programs are years closer to maturity—some approaching pivotal clinical milestones and commercial inflection points. Some could also have fallen away.

**Crucially, if Fusion’s OptiMAL platform proves itself in the market, it could transform this royalty pipeline from a one-off asset into a recurring, self-replenishing engine. OptiMAL enables faster, higher-quality antibody discovery, which could mean:

• hopefully more licensing and co-development agreements.

• which means a growing stream of new milestone-carry deals added each year.

• Material long-term entitlements to royalty payments that could dwarf Fusion’s current revenue base.

In my view Fusion’s early royalty pipeline is likely to be approaching the point where milestone payments can start flowing.

And if OptiMAL delivers on its promise, this pipeline won’t just pay off—it will expand and compound, creating a durable source of significant upside that could reshape Fusion’s long-term earnings profile.

I keep going back to the brokers notes on investment case and valuation:

“ Investment case. In our assessment, Fusion is significantly undervalued relative to its peers. Its current market capitalisation of £7.0m does not adequately reflect the

investments made or the underlying technology. We believe the market has yet to fully recognise the ongoing recovery in sales and order book, as well as the potential of Fusion's novel proprietary platforms (OptiMAL®, OptiPhage™, and AI/ML-Ab™). We anticipate this will be reflected over time, and the latest trading statement indicates a much-improved outlook and a stronger foundation for Fusion.”

“ Fusion's market capitalisation is £7.7m, suggesting an EV of £6.8m. We consider this to represent a geared situation, given almost no value is being ascribed to Fusion's antibody discovery technologies. Given there is evidence that sales and margins are on an upward trajectory, our investment thesis is that investors will start to recognise the value of Fusion's class leading antibody discovery technology. To highlight this, we note the current valuation of Absci (Nasdaq: ABSI), a larger US/Canadian-based firm that has an Al-led approach to antibody drug design. This company has an EV of $275m (market capitalisation of $386m and cash of $112m).”

The fact they’ve been able to do generate an antibody that naturally does what AstraZeneca, Genmab and Genentech have had to significantly engineer theirs to get to is amazing. That and the fact that no others seem to have got past phase 3 trials yet suggest they’re onto something in a really hot space.

Also, the fact they plan to be able to licence this by end of summer next year for clinical trials is amazing!

Worth watching the deep dive with the CEO

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

He’s been instrumental in the turnaround. Very impressive performance, calm collected and confident not over promising. This isn’t his first rodeo…remember when he was appointed:

“ Prior to joining Vortex, Adrian worked as CEO at several antibody-based diagnostics companies including BioFab Ltd, and Lumabs BV. He was formerly the Chief Commercial Officer for Promexus Ltd, a protein biotherapeutics company where he developed the corporate strategy for Therapeutic Affimers, culminating in a multi-target deal with a potential of over $1bn. Adrian was previously Chief Business Officer of the Aptamer Group, and Strategic Market Development Leader for Abcam plc, the leading provider of research antibodies. ”

Let’s hope we see some more deals with cumulative value over $1bn

We’re entering the pivotal point Fusion Antibodies has been working towards for nearly a decade. After years of building a service business, the company is now positioned to license out proprietary platforms to pharma and biotech.

At the recent Investor Meet Company presentation, the CEO summed it up plainly:

“We know now that Optimal does work which is a tremendous technological step forward.”

Independent validation from world-class partners is already in hand:

“The NCI have identified…a significant number of positive cells…Fusion have reproduced those findings.”

“It can be licensed out. It can be run in other labs. It’s not just something that only we can do and therefore we represent a limit in terms of capacities for using it. It can be made much more widely available.”

This isn’t about incremental steps:

“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.”

And crucially, this is on track to conclude soon:

“We know it works, trying to find out how well it works in the next few months.”

Other highlights from Adrian at the Investor Meet Company Q&A:

• “In my opinion the most exciting opportunity for growth is the Optimal platform. It’s one of the reasons why I joined the business myself.”

• “This will give us a very strong USP for discussions with a wide variety of clients, some of whom we’ve struggled to secure meetings with in the past.”

• “Optimal also allows us significantly enhanced market awareness so other clients out there prospective clients out there hear about Optimal and the things that it can do. It opens doors for us.”

It’s worth remembering that licensing discovery platforms in this space can command multi-million-pound upfront fees, annual milestone payments, and royalties—revenues that, if secured, would dwarf Fusion’s current annual sales base.

“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.”

After nearly a decade of R&D, a turbulent time a few years ago, Fusion emerges leaner, with mature technology, growing service revenues year on year, and about to deploy its flagship platform into the market. In my view, Fusion’s recovery could be talked about for years to come when this comes off.