Cambridge-based cell engineering company Horizon Discovery has stayed focused despite first-half revenues dropping because of the coronavirus crisis and the reduction in academic research due to the pandemic. In the six months to 30 June 2020, revenues slipped by 13.9 per cent to £22.4 million. Losses from continuing operations also widened to £9.4 million from £4.8 million.
“Despite the impact of the global COVID-19 pandemic during the first half of 2020, we concentrated our efforts to ensure the business remained focused and executing on its strategy, whilst continuing to invest in long-term growth drivers such as our collaborations with Mammoth BioSciences and Rutgers in Base Editing,” said Chief executive Terry Pizzie.
“The fantastic efforts of our staff have ensured that we have been able to continue to operate effectively through the crisis, enhancing relationships with our biopharma customers despite the challenging operational environment.”
He added that the group is “encouraged” by the level of trading in July 2020.
The company’s goal is to commercialise the application of gene editing and gene modulation to accelerate scientific innovation and biopharmaceutical drug development.