Fusion adding 28 jobs in Belfast following cash boost
Workforce to double at west Belfast operation
A listed Belfast company says it is adding almost 30 jobs and doubling its workforce amid a fresh cash boost.
Fusion Antibodies, a bio-technology business based at Springbank Industrial Estate in west Belfast, says it will add the 28 posts, with more than £200,000 of assistance from Invest NI.
The company, which floated on the Alternative Investment Market (AIM) in London in 2017, revealed the latest expansion in an update to the stock market yesterday morning.
Earlier this year the company said it was hoping to see growth of 40% this year.
Paul Kerr, chief executive of Fusion Antibodies, said: "Invest NI continues to provide excellent support as we look to expand the business rapidly and to capitalise on our position as a successful international contract research organisation providing a range of antibody engineering services.
"These grants will help to fund the expansion of our team as we more than double the capacity of our laboratory and office space, with work expected to be completed by the end of the summer, ahead of our original schedule.
"The new employees will include technically skilled staff working to deliver our current services to biopharma companies, and also scientists with specialised skills to work in our new product development team.
"In addition, our growth strategy, focused on reinvigorating and expanding our new business development and sales function, will benefit from further resource in this area."
Grainne McVeigh, Invest NI's director of life sciences, said the expansion is an "exciting milestone for Fusion Antibodies which is among a dynamic group of companies contributing to our growing life and health sciences sector". She added: "Invest NI has been working alongside the business for many years and we are delighted to be helping Fusion Antibodies to scale up its workforce and target market opportunities with drug development and diagnostics companies across the globe."
The company - a Queen's University spin-off - listed on the stock exchange in December last year.