Contract wins with existing client

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse (amendment) (EU Exit) Regulations 2019/310 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

27 August 2025

Fusion Antibodies plc

("Fusion" or the "Company")

Contract wins with existing client

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 three follow on projects to the stable Cell Line Development project (the "CLD Project") announced on 27 February 2025. The original contract and the follow-on contracts (the "New Contracts") all operate under a collaborative research and development agreement (the "Agreement") with a US based biotechnology company (the "Client").

Work in relation to the CLD Project under the original contract was expected to last between six to nine months. The New Contracts build on the successful progress to date with the original project, extending its scope and establishing a further new engineering project for the Client. The New Contracts are valued at c. $460,000, of which a minimum of $400,000 is expected to be recognised in the current financial year ending 31 March 2026.

Adrian Kinkaid, CEO of Fusion, 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."

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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.