Contract Win

28 August 2025

Fusion Antibodies plc

("Fusion" or the "Company")

Contract Win

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, announces that it has been selected to proceed with a new humanisation project (the "Humanisation Project") under an existing Master Service Agreement (the "Agreement") with a US based specialty division of a global pharmaceutical company (the "Client").

While the Company expects to generate modest revenues from the Humanisation Project, it demonstrates Fusion's ability to win contracts with 'Big Pharma' companies. This is seen as a significant part of the Company's strategy not only in reducing dependence on more volatile smaller clients, but also in seeking to exploit its novel technologies such as OptiMAL®. Work in relation to the Humanisation Project is expected to complete within the current financial year.

Adrian Kinkaid, CEO of Fusion, said: "We are delighted to have been selected to humanise a family of antibodies for our Client. It is particularly gratifying that a client of this magnitude and with all the resources available to it has selected Fusion to undertake this critical work. We look forward to continuing to work with our Client to fulfil our mission to bring better antibodies to the clinic more rapidly. The Humanisation Project highlights the world class reputation that Fusion has for delivering high quality therapeutic antibodies.

"Whilst revenues from the new Humanisation Project will be relatively modest, winning this contract provides recognition of our expertise in this highly competitive market. We look forward building on the excellent relationship with our Client."

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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 CDRx TM 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 and expressed over 250 antibodies and successfully completed over 200 humanisation projects and has an international, blue-chip client base, which has included 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. The Company's mission is to enable pharmaceutical and diagnostic companies to develop innovative products in a timely and cost-effective manner for the benefit of the global healthcare industry. Fusion Antibodies provides a broad range of services in antibody generation, development, production, characterisation and optimisation.

Fusion Antibodies growth strategy is based on combining the latest technological advances with cutting edge science to deliver new platforms that will enable Pharma and Biotech companies get to the clinic faster, with the optimal drug candidate and ultimately speed up the drug development process.