Fusion Antibodies has announced a new follow-on project that is expected to generate substantial fees for the company. Under the project, Fusion will further progress the lead antibody that was successfully developed under an existing collaboration agreement with a US biotech company.
Fusion Antibodies shares were 13% higher at the time of writing.
The follow-on project is anticipated to bring in approximately $650,000 in fees for Fusion by the end of March 2025. This comes on top of the fees already received under the initial agreement, which slightly exceeded the original minimum of $1.83 million due to additional work elements.
Fusion Antibodies said the ongoing partnership demonstrates the value of Fusion’s proprietary antibody discovery and engineering capabilities, which continue to drive revenue growth through service agreements.
Leveraging Fusion Antibodies’ RAMP antibody maturation platform, the new follow-on project focuses on advancing the lead therapeutic antibody identified in earlier discovery work. Further optimisation and development of potential backup candidates may also be undertaken.
“It is always thrilling and satisfying to share in our clients’ successes. We are delighted that the programme has been so productive, and we look forward to continuing to work with our Client to bring better antibodies to the clinic more rapidly,” said Adrian Kinkaid, CEO of Fusion.
“The collaborative nature of the project, with creative problem solving from both parties over the full length of the programme, makes this a model example of Fusion’s Integrated Therapeutic Antibody Service (ITAS) and highlights the strong reputation that Fusion has for delivering high quality therapeutic antibodies.
“Whilst it is not anticipated that revenues from the new Follow-on Project will substantially impact revenues in the current financial year, it provides a valuable bedrock for the following year. We look forward to continuing to build on the excellent relationship with our Client and to repeating the success with more ITAS projects in the future.”
