Annual Report and Accounts

For the year ended 31 March 2021

fusionantibodies.com

Annual Report and Accounts

For the year ended 31 March 2021

HEADLINES

FOR THE YEAR

COMMERCIAL ROLL

INVESTMENT IN R&D

FULL YEAR REVENUES

DEFERRED TAX

OUT AND REVENUES

INCREASED BY 57%

INCREASED BY

ASSET OF £1.8M

FROM RATIONAL

FROM PRIOR YEAR

7% TO £4.2M

DERECOGNISED, BUT

AFFINITY MATURATION

(2020: £3.9M)

TAX LOSSES OF £9.0M

PLATFORM (RAMPTM)

REMAIN AVAILABLE

TO OFFSET FUTURE

PROFITS

LOSS FOR THE YEAR OF

£3.0M EQUITY

CASH POSITION AT THE

£2.9M

FUNDRAISE

YEAR-END£2.7M

(2020: LOSS £0.7M)

(2020: £1.5M)

POST YEAR END AND

LOOKING AHEAD

RECEIPT OF FIRST

SUCCESS MILESTONE

PAYMENT OF

£150,000

FROM A KEY CLIENT

01

Fusion Antibodies plc

02

Annual Report and Accounts

For the year ended 31 March 2021

CONTENTS

STRATEGIC REPORT

Fusion at a glance

4

Chairman's statement

6

Company overview

8

CEO's report and operations review

13

Principal risks and uncertainties

18

CORPORATE GOVERNANCE

Board of directors

22

Corporate governance statement

25

Directors' report

31

FINANCIAL STATEMENTS

Independent auditors' report to the

38

members of Fusion Antibodies plc

Statement of comprehensive income

44

Statement of financial position

45

Statement of changes in equity

46

Statement of cash flows

47

Notes to the financial statements

48-65

Company information

66

03

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Disclaimer

Fusion Antibodies plc published this content on 25 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 September 2021 07:21:03 UTC.