Covid-19 pandemic has ‘limited impact’ on Fusion Antibodies

Clients of contract research company working on solution to coronavirus outbreak

 

Northern Ireland contract research company Fusion Antibodies has so far had a “very limited impact” from the Covid-19 pandemic, with the company remaining fully operational.

In a stock market update the company, listed on London’s AIM exchange, said that any staff who can work from home are doing so and that and affect from the pandemic on the group’s trading performance has been limited.

Fusion’s clients include developers of therapeutic drugs and diagnostics, some of which are working on solutions related to Covid-19. The company said it has been “engaged and received further expressions of interest regarding its services for a number of projects in this therapeutic area”.

“We are well placed to support our clients in this vital work and believe that our services and products can help accelerate the finding of the solution,” said Fusion chief executive Paul Kerr.

Established in 2001 as a spin-out from Queen’s University, Fusion is a Belfast-based contract research organisation providing a range of antibody engineering services for the development of antibodies for both therapeutic drug and diagnostic applications.

In January, the company issued a trading update forecasting full year revenues to come in “materially ahead” of last year. Trading for the full year to the end of March has remained in line with those expectations, the company said.

A more detailed trading update will be provided by the company in April after its financial year end.