Announcement PDF RNS Number : 5622E Fusion Antibodies PLC 14 March 2022 Fusion Antibodies plc ("Fusion" or the "Company") Update on Board changes Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, announces an update on the changes to the Board of the Company, further to the Company's announcement on 21 February 2022. Richard Jones has now stepped down from his role as CEO, effective from 11 March 2022. Simon Douglas, Chairman of Fusion, supported by James Fair (Chief Financial officer), Richard Buick (Chief Scientific Officer) and the senior management, will assume responsibility for the running of the business while the arrangements for a new CEO are finalised. A formal search for a new CEO is currently underway and continues as planned. The Board confirms that trading for the current year ending 31 March 2022 remains in line with expectations. Enquiries: Fusion Antibodies plc Simon Douglas, Chairman James Fair, Chief Financial Officer Allenby Capital Limited James Reeve/Vivek Bhardwaj (Corporate Finance) Tony Quirke (Sales and Corporate Broking) Walbrook PR Anna Dunphy Paul McManus www.fusionantibodies.com Via Walbrook PR Tel: +44 (0)20 3328 5656 Tel: +44 (0)20 7933 8780 or fusion@walbrookpr.com Mob: +44 (0)7876 741 001 Mob: +44 (0)7980 541 893 About Fusion Antibodies plc Fusion is a Belfast-based Collaborative Research Organisation ("CRO") company, listed on AIM, providing a range of antibody engineering services for the development of antibodies for both therapeutic drug and diagnostic applications. Fusion provides a broad range of services in antibody generation, development, characterisation, optimisation, and small-scale production. These services include antigen expression, purification and sequencing, antibody humanisation using Fusion's proprietary CDRxTM platform and cell line development, producing antibody generating stable cell lines optimised for use downstream by the customer to produce material for clinical trials. Since 2012, the Company has successfully sequenced and expressed over 250 antibodies and successfully completed over 200 humanisation projects for its international customer base, which has included eight of the top 10 global pharmaceutical companies by revenue. At every stage, our client's vision is central to how we work in combining the latest technological advances with cutting edge science. In this work our world-class humanization and antibody optimization platforms harness the power of natural somatic hypermutation (SHM) to ensure the best molecule goes to the clinic. Fusion Antibodies' growth strategy is based on enabling Pharma and Biotech companies get to the clinic more effectively, using molecules with optimized therapeutic profile and enhanced potential for successful development and approval and, ultimately, on speeding up the drug discovery and development process. Fusion's use of SHM to create a fully human antibody library to capture the human antibody repertoire will address a continuing market need in antibody discovery, Fusion Antibodies' emphasis on antibody therapeutics is based on the size and growth rate in the sector, with the market valued at $135.4 billion in 2018 and forecast to surpass $300 billion by 2025, a CAGR of 14.26%. As of May 2021, there were 100 approved antibody therapies on the market and more than 570 antibody therapies in clinical development. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END BOAJBMFTMTABBBT