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Fusion Antibodies secures funding from business development agency
Antibody engineering services firm Fusion Antibodies announced on Thursday that it is to create jobs after securing receipt of additional grants from Invest NI.
The AIM-traded company said it will create up to 28 jobs and support additional business development over the next 24 months after Invest NI set out the terms by which the company is entitled to grants totalling up to £0.213m.
Grainne McVeigh, Invest NI's Director of Life Sciences, said: "Invest NI has been working alongside the business for many years and we are delighted to be helping Fusion Antibodies to scale up its workforce and target market opportunities with drug development and diagnostics companies across the globe."
Invest NI is Northern Ireland's regional business development agency and provides support to local businesses in the region and is a substantial shareholder and supporter of the company.
Paul Kerr, chief executive of Fusion Antibodies, said: "These grants will help to fund the expansion of our team as we more than double the capacity of our laboratory and office space, with work expected to be completed by the end of the summer, ahead of our original schedule."
As of 1300 BST, Fusion Antibodies' shares were down 0.97% at 156.00p.