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Fusion IP promotes CFO Gardiner to the board

Intellectual property company Fusion IP (LON:FIP)has promoted current chief financial officer Tony Gardiner to the main board as finance director.

Gardiner, who has previously held senior financial positions with Eversheds LLP and KCOM Group, also presently serves as a director at Fusion IP Sheffield Limited, Fusion IP Cardiff Limited, Fusion IP One Limited, Fusion IP Two Limited, all part of the Fusion IP Group.

Gardiner’s past directorships within Fusion IP Group were at Magnomatics Limited and Mesuro Limited.

“Tony has made a significant contribution to the company over the last few years and his promotion to the main Board is much deserved recognition of this fact.

“I look forward to continuing to work with Tony,” said chief executive David Baynes.

Fusion IP, previously called Biofusion PLC, was established in 2002 to commercialise university-generated intellectual property. Fusion IP has signed long term agreements with the University of Sheffield and Cardiff University, giving a combined R&D spend attributable to Fusion IP of approximately £185 million a year.

Last month, Fusion’s Sheffield-based partner Absynth Biologics signed a licensing and collaboration agreement with MorphoSys, which will generate antibodies using its proprietary HuCAL PLATINUM antibody library which Absynth will test in relevant disease models.

Absynth will receive an upfront payment with further milestone payments and royalties.