Adrian Kinkaid, CEO of Fusion Antibodies PLC (AIM:FAB) delivered an overview of the company's activities, achievements, and future outlook at the Proactive One2One Investor Forum. He highlighted the importance of antibodies in therapeutics, noting that in 2023, 12 out of 17 approved protein drugs were antibodies. Fusion Antibodies specialises in antibody discovery, engineering, and supply, catering to biotech and pharmaceutical companies, including large pharma and virtual companies without labs.
Kinkaid mentioned the company's expansion into veterinary medicine and diagnostics. He noted the growing traction in these areas, particularly in diagnostics where antibodies play a crucial role. Despite a challenging previous year, Fusion Antibodies is on a recovery path, highlighted by a collaboration with the National Cancer Institute (NCI) in the U.S., which is using Fusion’s optimal platform.
The company also announced a master service agreement with a leading diagnostics company and continued work with a recurring client on a $650,000 project following a $1.8 million deal. A recent fundraising of £1.37 million supports their increasing sales pipeline, which began the financial year with £750,000 in orders.
Fusion Antibodies is also innovating with its AIML (artificial intelligence machine learning) approach, called Aim lab, and a new platform, optiPhage, designed for a less technical yet industry-accepted phage display format. Kinkaid emphasised the company's comprehensive suite of offerings, aiming to transition from survival to thriving, with a robust financial and strategic position for the future.
