Fusion Antibodies Completes £1.2 million Financing Round

27-Jul-2007

Fusion Antibodies Ltd., a biotechnology company, focused on the discovery, development and commercialisation of antibody-based therapeutics for cancer, has announced that it has raised £1.2 million (EUR1.8 million) in a recent financing round. The round included a group of new and existing investors including Crescent Capital, Viridian Growth Fund, QUBIS Ltd., University Challenge Fund and Invest Northern Ireland.

Professor Sir John Cadogan, Chairman of Fusion Antibodies said: "This further investment is a welcome and significant measure of support from our existing and new investors, particularly Crescent and Invest Northern Ireland. Their involvement highlights the confidence in Fusion, underlining the potential of our approach to developing novel cancer therapeutics."

The investment will be used to develop the Company's leading programmes through later stage preclinical development, thus strengthening the company's pipeline of therapeutic antibodies. The latest data with the companies leading drug shows great potential in tumour regression.

In addition to the funding round Fusion has been awarded a £400,000 grant towards their research program through the Invest Northern Ireland START programme. START aims to increase the level of industrial level research and development carried out by local businesses and universities.

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Topic world Antibodies

Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous

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Topic world Antibodies

Topic world Antibodies

Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous