BELFAST – Fusion Antibodies plc (AIM: LON:FAB), a company specializing in pre-clinical antibody discovery, engineering, and supply, has been granted approximately £1 million in non-dilutive funding for research and development. As part of The Northern Ireland Precision Biomarkers and Therapeutics consortium (NIPBT), Fusion will also benefit from up to £5 million for capital equipment, new PhD studentships, and access to core staff and facilities.
The consortium, which includes academic institutions and life sciences companies, aligns with Northern Ireland's strategies for health and economic development. Its mission is to leverage the region's capabilities in digital health and pharmaceuticals to foster innovation and productivity. The initiative aims to expand research capacity and advance healthcare through the development of new technologies, diagnostics, and therapeutics.
The grant, provided by UK Research and Innovation (UKRI) and Invest Northern Ireland (Invest NI) from the Strength in Places Fund, will facilitate the establishment of the Future Medicines Institute (FMI) at Queen's University Belfast. The institute will feature new facilities and equipment, and foster the training of twenty PhD students in research areas essential to the consortium's interests.
Fusion's involvement in NIPBT will focus on enhancing antibody discovery and development processes, with the end goal of producing therapeutic and diagnostic antibodies. The company has already entered into a formal collaboration agreement.
The grant funding, which can be claimed over five years, is expected to be used by Fusion for human resources, materials, and capital investment, with a significant portion likely to be utilized in the initial stages of the grant period.
Adrian Kinkaid, CEO of Fusion, expressed satisfaction with the consortium's recognition and the role Fusion plays in Northern Ireland's life sciences sector. Richard Buick, CSO of Fusion, highlighted the grant's support for the development of their discovery and engineering capabilities, including in the fields of OptiPhage™ and Cell Line Development.
The project is slated to commence on January 1, 2025. This announcement is based on a press release statement.
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