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(Sharecast News) - Pre-clinical antibody discovery specialists Fusion Antibodies said on Wednesday that it has been selected for three follow-on projects to its existing stable Cell Line Development project.
Fusion Antibodies said the original contract and the follow-on contracts all operate under a collaborative research and development agreement with an unnamed, US-based biotechnology company. Work in relation to the CLD project under the original contract was expected to last between six and nine months.
The AIM-listed firm stated the ew Contracts were valued at roughly $460,000, of which a minimum of $400,000 was expected to be recognised in the current financial year ending 31 March 2026.
Chief executive Adrian Kinkaid said: "We are delighted to extend our agreement with this significant client and to add a further earlier-stage project to the pipeline of work we are undertaking with them. We look forward to continuing to work with our client to bring better antibodies to the clinic more rapidly.
"These new contracts and the CLD project highlights the strong reputation that Fusion has for delivering high-quality therapeutic antibodies and their associated cell lines: a part of our offering with excellent scope for growth."
As of 0810 BST, Fusion shares were up 8.30% at 16.24p.
Reporting by Iain Gilbert at Sharecast.com
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