Fusion Antibodies (AIM: FAB), specialists in pre-clinical antibody discovery, engineering and supply, announces that the Company is working with Queen’s University Belfast as part of The Northern Ireland Coronavirus Antibody Development Alliance (“NICADA”), which has been established to seek new therapeutic and diagnostic approaches to help in the global fight against the coronavirus pandemic.

NICADA aims to develop new therapeutic molecules that can be evaluated for their ability to neutralize SARS-CoV-2, the virus that causes COVID-19 disease.

Working with Professor Ultan Power in the Wellcome-Wolfson Institute of Experimental Medicine, Professor Chris Scott in The Patrick G Johnston Centre for Cancer Research and Dr Fuquan Lui in the School of Biological Sciences, at Queen's University Belfast, it is intended that Fusion will prepare antibodies that will potentially neutralise the virus. There is a shortage of key reagents for testing globally and, although not a core service currently offered by the Company, Fusion Antibodies will be using their expertise in the development of key antibody related reagents.

Fusion and Queen's University Belfast have not agreed to any financial arrangements in respect of the research alliance, and the arrangement is not expected to impact Fusion’s revenue or working capital position.

Paul Kerr, Chief Executive Officer of Fusion Antibodies said:

“We are delighted to be able assist in the global battle against coronavirus. In the first instance we’ll work with Queen’s University Belfast to use our expertise in the development of any key reagents.”

Professor Chris Scott, Director of The Patrick G Johnston Centre for Cancer Research, Queen’s University Belfast, said:

“By bringing together diverse researchers from virology, biological sciences and cancer research we are rapidly contributing to the development of new reagents that could not only neutralize the virus, but also aid diagnostic efforts; both of which are needed to inform decisions on lifting the current lockdown. We are delighted to initiate this alliance with Fusion Antibodies and to direct our research capabilities towards tackling this global pandemic.”

Ultan Power, Professor of Molecular Virology, Queen’s University Belfast said:

“The NICADA alliance provides an excellent opportunity to generate novel therapeutics and diagnostics to help the global fight against SARS-CoV-2.” The NICADA alliance is actively harnessing leading scientific talent to assist with tackling the global coronavirus pandemic.