London police have charged two suspects after a stabbing in the Dundas and William streets area on Sunday afternoon.

A 46-year-old male and a 19-year-old female were treated in hospital for stab wounds after the altercation and have since been released.

As a result of the police investigation, 23-year-old Aaron Degrace of London has been charged with two counts of aggravated assault.

Amanda Dumont, 29, also of London, has been charged with one count of assault with a weapon.

Both suspects had reportedly been taken into custody at the time of the stabbing.

Police say all parties involved were known to each other and the altercation is believed to have occurred over a bicycle.

Degrace and Dumont are scheduled to appear in court Monday.