Fusion Antibodies plc

("Fusion" or the "Company")

Posting of Annual Report, Notice of AGM and Director Change

Fusion Antibodies plc (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, announces that the Annual Report and Accounts for the year ended 31 March 2022 and the Notice of the Company's Annual General Meeting ("AGM") have been posted to shareholders today.

A copy of the 2022 Annual Report and Accounts, the Notice of AGM and accompanying form of proxy is now available to download from the Company website here: https://www.fusionantibodies-ir.com/.

The AGM will be held on Friday, 23 September 2022 at 11.00 am in The Malone Hotel, 60 Eglantine Avenue, Malone Road, Belfast, BT9 6DY.

Tim Watts, Non-executive Director since December 2017, has informed the Board of his intention to retire and, therefore, will not be seeking re-election at the AGM. He will cease to be a Director of the Company at the close of the AGM. Colin Walsh, Non-executive Director will take up the position of Chair of the Company's Audit Committee in place of Tim Watts.

Simon Douglas, Chairman of Fusion, commented: "On behalf of the Board, I would like to offer my sincere thanks to Tim for his service to the Company as a Non-executive Director and as Chair of the Audit Committee. Tim joined the Company at the time of the IPO and has made a valuable contribution to the Company, particularly from his knowledge and experience of public companies."

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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.