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."

James Reeve/Vivek Bhardwaj (Corporate Finance) Tony Quirke/Joscelin Pinnington (Sales and Corporate Broking)

Shard Capital Partners LLP