Partner:FW Capital
Region:Tees Valley
Location:Redcar
Programme:Northern Powerhouse Investment Fund
Absolute Antibody is a Tees Valley based business which has benefited from a six figure investment. From its headquarters in Wilton, the business specialises in the sequencing, engineering and recombinant production of antibodies and offers related protein engineering services.
Absolute Antibody initially operated from offices and labs in Oxfordshire, but as it expanded moved its UK labs to the Wilton Centre, Redcar. In 2018, the company doubled its lab space in Wilton, increased its staff to 30 and expanded into the USA through a merger with Kerafast Inc, based in Boston, Massachusetts.
The management team led by CEO Nicholas Hutchings now wishes to add a third production line based in an independent laboratory in the Wilton Centre to ensure capacity for growth. It also plans to use the capital to upgrade its IT and lab management software and create five new jobs.
Absolute Antibody CEO, Nicholas Hutchings, said: “The global market for research antibodies is in excess of $2.5bn and continues to expand. We have a strong contribution to make to this and the investment will help us develop our technical lead in protein engineering and further disrupt the market. We are grateful to FW Capital for recognising the opportunity and all its support.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719
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