(Alliance News) - Fusion Antibodies PLC on Monday said it signed an agreement with an unnamed artificial intelligence & machine learning company, which it said could cut costs per sequence test significantly.
Fusion Antibodies is a Belfast-based contract research organisation providing discovery, design and optimisation services for therapeutic antibodies to the healthcare market.
The company said the new US-based artificial intelligence & machine learning business will support its new AI/ML/antibody discovery service offering.
"Each party to the agreement will be entitled to a fee for any new business introduced to the other. Both parties have already combined to begin commercialisation of the offering and are processing multiple leads derived by both entities," Fusion Antibodies said.
Fusion Antibodies Chief Executive Officer Adrian Kinkaid said: "We are delighted to be able to announce the successful delivery of the AI/ML-Ab service utilizing our established production and evaluation capabilities and an option to include our proprietary mammalian display technology, which can significantly improve success rates, output affinities while reducing the cost per sequence test to as little as 1% of the cost of lower throughput methods."
Fusion Antibodies shares rose 2.2% to 6.90 pence each on Monday morning in London.
By Tom Budszus, Alliance News reporter
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Fusion Antibody (FAB)