Belfast biotech boost

Belfast-based biotech firm Fusion Antibodies has secured more than £1.5m of new funding to expand its research into new anti-cancer drugs.

The company will use the new investment to push its research into antibody-based therapies through to later stage pre-clinical development.

Fusion Antibodies, a spin-out from Queen’s University Belfast, is one of the leading lights of an emerging cluster of biotech firms operating in Northern Ireland.

The majority of the new cash came from a financing round backed by investors including Crescent Capital, Viridian Growth Fund and Qubis.

The company has also been awarded almost £500,000 in R&D and equity support from Invest Northern Ireland. The R&D activity will include safety and efficacy tests needed to take the cancer treatments to a commercial stage.

Dr Simon Douglas, Fusion Antibodies’ chief executive, said its research into the cancer-specific treatment was advancing rapidly.