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By Anthony O. Goriainoff
Shares of Fusion Antibodies PLC rose on Thursday after the company said it has entered into a collaborative research and development agreement with an undisclosed U.S. biotech company that has a minimum contract value of $ 1.8 million. dollars.
Shares at 08:00 GMT were up 17.50 pence, or 16%, to 130 pence.
The London-listed biotech research firm said the deal will provide services that include the use of its affinity maturation platform, RAMP, and that there is a framework for a fee increase for the service work.
Affinity maturation refers to the process by which an immune system generates antibodies of higher affinities during a response to an antigen.
He added that the client has made an upfront cash payment of $ 318,000 and the remainder is payable at pre-arranged intervals.
“We are particularly pleased that the project is taking place on our RAMP platform, noting that this technology continues to gain traction in the market,” said Managing Director Richard Jones.
Write to Anthony O. Goriainoff at [email protected]
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