Last checked at 3 Jul 2019 16:09
03 July 2019
Fusion Antibodies plc
("Fusion" or the "Company")
Director/PDMR Shareholding
Fusion Antibodies plc (AIM: FAB), a contract research organisation providing a range of antibody engineering services for the development of antibodies for both therapeutic drug and diagnostic applications, announces the following purchases of ordinary shares in the Company ("Ordinary Shares") by certain directors.
On 02 July 2019, Dr Paul Kerr, Chief Executive Officer, purchased 6,920 Ordinary Shares at a price of 72.896 pence per Ordinary Share. Following this purchase, Paul Kerr has a direct and indirect interest in 540,710 Ordinary Shares, representing approximately 2.45 per cent. of the Company's issued share capital.
On 02 July 2019, Alan Mawson, Non-Executive Director, purchased 10,000 Ordinary Shares into his pension fund at a price of 59 pence per Ordinary Share. Following this purchase, Alan Mawson has a direct and indirect interest in 53,988 Ordinary Shares, representing approximately 0.24 per cent. of the Company's issued share capital. Alan Mawson is also a Non-Executive Director of Clarendon Fund Managers Limited ("Clarendon") and sits on Clarendon's investment committee. Clarendon is the fund manager for Nitech Growth Fund LP which holds 358,850 Ordinary Shares and Viridian Growth Fund LP which holds 1,831,500 Ordinary Shares.
On 02 July 2019, Sonya Ferguson, Non-Executive Director, purchased 30,000 Ordinary Shares at a price of 69.5 pence per Ordinary Share. Following this purchase, Sonya Ferguson has a direct and indirect interest in 60,900 Ordinary Shares, representing approximately 0.28 per cent. of the Company's issued share capital.
The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further details.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Dr Paul Kerr | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Fusion Antibodies plc | ||||
b) | LEI | 213800KBAYRC9VOQ9V39 | ||||
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| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 4p each in Fusion Antibodies plc
Identification code (ISIN) for Fusion Antibodies plc ordinary shares: GB00BDQZGK16
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b) | Nature of the transaction | Purchase of shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 02 July 2019 | ||||
f) | Place of the transaction | London Stock Exchange, XLON | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Alan Mawson | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-Executive Director | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Fusion Antibodies plc | ||||
b) | LEI | 213800KBAYRC9VOQ9V39 | ||||
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| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 4p each in Fusion Antibodies plc
Identification code (ISIN) for Fusion Antibodies plc ordinary shares: GB00BDQZGK16
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b) | Nature of the transaction | Purchase of shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 02 July 2019 | ||||
f) | Place of the transaction | London Stock Exchange, XLON | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Sonya Ferguson | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-Executive Director | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Fusion Antibodies plc | ||||
b) | LEI | 213800KBAYRC9VOQ9V39 | ||||
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| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 4p each in Fusion Antibodies plc
Identification code (ISIN) for Fusion Antibodies plc ordinary shares: GB00BDQZGK16
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b) | Nature of the transaction | Purchase of shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 02 July 2019 | ||||
f) | Place of the transaction | London Stock Exchange, XLON | ||||
Enquiries:
Fusion Antibodies plc | www.fusionantibodies.com | |
Dr Paul Kerr, Chief Executive Officer | Via Walbrook PR | |
James Fair, Chief Financial Officer
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Allenby Capital Limited | Tel: +44 (0)20 3328 5656 | |
James Reeve / Asha Chotai
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Walbrook PR | Tel: +44 (0)20 7933 8780 or fusion@walbrookpr.com | |
Paul McManus | Mob: +44 (0)7980 541 893 | |
Anna Dunphy | Mob: +44 (0)7876 741 001 | |
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About Fusion Antibodies plc
Fusion is a Belfast based contract research organisation ("CRO") providing a range of antibody engineering services for the development of antibodies for both therapeutic drug and diagnostic applications.
The Company's ordinary shares were admitted to trading on AIM on 18 December 2017. Fusion provides a broad range of services in antibody generation, development, production, characterisation and optimisation. These services include antigen expression, antibody production, purification and sequencing, antibody humanisation using Fusion's proprietary CDRxTM platform and the production of antibody generating stable cell lines to provide material for use in clinical trials. Since 2012, the Company has successfully sequenced over 250 antibodies and successfully completed over 100 humanisation projects for its international, blue-chip client base, which includes eight of the top 10 global pharmaceutical companies by revenue.
The Company was established in 2001 as a spin out from Queen's University Belfast. It was initially a drug development business but revised its operations to focus on CRO work in 2011. The Company has a highly experienced management team with a combined 47 years' experience in the biopharma industry.
The global monoclonal antibody therapeutics market, which accounted for 43 per cent. of the global biologics market in 2016, was valued at between $85.4 billion and $86.7 billion in 2015 and is forecast to increase at a CAGR of between 8.2 per cent. and 12.2 per cent. for the period 2016 to 2024.