Belfast-based biotechnology company Fusion Antibodies said its chief scientific officer, Richard Buick, has exercised his share options, bringing his stake to 2.43 per cent.

The 20,000 share options were granted in accordance with the company’s employee share option scheme, with an exercise price of 54.5 pence per share. The new ordinary shares will be admitted to trading on AIM in accordance with the company’s block admission announcement on September 27th.

A spin-out from Queen’s University Belfast, Fusion specialises in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications. It is focused on the monoclonal antibody therapeutics market which was valued at $135.4 billion in 2008 and is forecast to surpass $212.6 billion by the end of next year.