- Fusion Antibodies, a company that develops antibodies for therapeutic drug and diagnostic applications, has announced that its investment in research and development (R&D) has jumped 57% from the previous year.

In its full year results, the company also disclosed revenues had increased 7% from £3.9 million in 2020 to £4.2 million in 2021.

Losses for the year however stood at £2.9 million, compared to £0.7 million the year before.

At the end of the year, the companies cash position hit £2.7 million, compared to £1.5 million as of 31 March 2020.

Richard Jones, CEO of Fusion Antibodies, said: ‘We are pleased with our performance in what has been a challenging year for everyone. We have made significant progress with sustained revenue growth, progress on the R&D pipeline, and continue to expand our range of services.’

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