Shares in Fusion Antibodies PLC (AIM:FAB) climbed 7% after the company reported progress in its OptiMAL validation project with the US National Cancer Institute (NCI).
The project aims to develop new antibodies for cancer research, using Fusion’s proprietary technology.
The NCI has identified antibody-expressing cells that successfully bind to their targets. Fusion will now extract and sequence the DNA from these cells to confirm their effectiveness, a process expected to take several months.
The company has already received the first batch of isolated cells, with more to follow.
Fusion is conducting this work on a goodwill basis to support the validation of OptiMAL. The NCI continues to identify additional cells, and Fusion expects to assist further in analysing the antibodies they produce.
In early trading, the stock was up 0.62p at 8.72p.