StockMarketWire.com - Antibody supplier Fusion Antibodies reported wider annual losses as higher costs amid the pandemic impact offset a rise in revenue.

For the year ended 31 March 2021, pre-tax losses widen to £1.3 million from £1.1 million year-on-year, while revenue increased by 7% to £4.2 million, which was marginally ahead of market expectations.

'The majority of this growth has come from the expansion of our existing services such as discovery, engineering and supply, as well as increasing interest and uptake of our new RAMP technology service platform which represents a key driver of growth for the business,' the company said.

Having raised capital in the year, the company said it believes that it 'has the financial resources to face the coming months with confidence.'

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