Belfast antibody discovery company Fusion Antibodies has said it expects “continued growth in financial performance” after reporting a jump in revenues.
The company said turnover climbed by 14% to £4.8 million for the 12 months to the end of March 2022, with growth recorded in all geographical regions.
In a trading update to the Alternative Investment Market on the London Stock Exchange, Fusion Antibodies said it had managed to overcome the challenges presented by the Covid-19 pandemic and has found increasing demand for its services.
Customer enquiries are said to be strong and the firm said it has bolstered its commercial team while also progressing with the search for a new chief executive officer following the resignation of Richard Jones in February this year.
Simon Douglas, Chairman of Fusion, said he was confident for future months.
"We are pleased to have achieved revenue growth in line with expectations in what has been another challenging year globally due to the pandemic,” he said. “I am delighted that the value of our client work is being demonstrated by the successes of our clients in reaching development milestones.
“All our staff members have worked diligently throughout the year and I would like to thank them all for their valuable contribution. The ongoing recruitment of a new CEO is progressing as planned, and we look forward to a year with more opportunities to visit clients and attend conferences as the restrictions relax.
“I am confident we will have a good year ahead."
Founded in 2001, Fusion Antibodies was spun out of Queens University Belfast and specialises in antibody development services for pharmaceutical and other companies. It launched an initial public offering on the AIM market back in 2017.
While the Covid-19 pandemic impacted its operations, it was also involved in the fight against the virus by leveraging its antigen expertise.
