Fusion Antibodies (AIM:FAB) on Friday told investors that it has won a new affinity engineering contract worth more than £45,000 from a returning European-listed pharmaceutical client, awarded under an existing master services agreement.
The Belfast-based antibody engineering specialist, listed on AIM, said the project will use its proprietary Rational Affinity Maturation Programme (RAMP) technology to engineer the client's lead antibody, with work expected to complete within the current financial year and contribute to revenue in the period.
The award comes after Fusion told shareholders that unaudited revenue for the six months to 30 September had fallen to approximately £457,000 from £838,000 a year earlier, with gross margin dropping to 10% from 30% and cash at half-year down to £135,000 from £251,000, prompting cost-cutting measures including a temporary recruitment freeze.
Fusion said the new contract represents renewed engagement with an established pharmaceutical partner for whom it has previously undertaken similar project work, and supports its strategy of deepening commercial relationships with major pharmaceutical companies to improve the quality and resilience of its revenue base.
"We are delighted to have secured this new RAMP project with a returning global pharmaceutical client", said chief executive Adrian Kinkaid, adding that the award "provides a further opportunity to apply our proprietary RAMP technology to the development of the Client's lead antibody."
Read more about Fusion Antibodies
- 15/10/26Fusion Antibodies revenue slumps as margins pinch
- 05/10/26Fusion Antibodies relaunches website to sharpen customer focus
- 14/09/26Fusion Antibodies swings to narrower loss as margins jump
The company's revenue has historically come from services including stable cell line development, humanisation and its multi-target Integrated Therapeutic Antibody Services, alongside its OptiMAL antibody library platform, which launched commercially in December following validation work with the US National Cancer Institute.
Fusion said the technically complex nature of the project demonstrates the relevance of its specialist capabilities as it seeks to commercialise RAMP, OptiMAL and its microfluidic cell line development technologies.