Fusion Antibodies Plc (GB:FAB) has released an update.
Fusion Antibodies Plc, a specialist in pre-clinical antibody discovery and engineering, reports lower annual revenues of £1.14m for FY2024, down from £2.9m the previous year, attributing the decline to a downturn in biotech venture capital. Despite a challenging year, the company raised £1.37m for working capital and investments, signaling a rebound with a strong end-of-year performance and a promising £0.75m order book. Fusion’s diversification strategy and recent collaborations, including one with the National Cancer Institute, have positioned it for anticipated growth in FY2025.
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