(Alliance News) - Fusion Antibodies PLC on Tuesday said it has won a follow-on project under a collaborative research and development agreement with an unnamed "US-based biotechnology company".
Shares in Fusion Antibodies rose 9.5% to 5.20 pence each in London on Tuesday morning.
Fusion Antibodies is a Belfast-based contract researcher, which provides discovery, design and optimisation services for therapeutic antibodies to the healthcare market.
The firm said the project is worth USD650,000.
Under the project, which Fusion first announced in October, the firm has been providing discovery and engineering services utilising its proprietary affinity maturation platform, RAMPTM, to assist its client in a number of antibody discovery and development programmes.
Chief Executive Officer Adrian Kinkaid said: "It is always thrilling and satisfying to share in our clients' successes. We are delighted that the programme has been so productive, and we look forward to continuing to work with our client to bring better antibodies to the clinic more rapidly. The collaborative nature of the project, with creative problem-solving from both parties over the full length of the programme, makes this a model example of Fusion's integrated therapeutic antibody service and highlights the strong reputation that Fusion has for delivering high quality therapeutic antibodies."
By Sabrina Penty, Alliance News reporter
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Fusion Antibody (FAB)