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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Biofusion | LSE:BFN | London | Ordinary Share | GB00B05L5X50 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 86.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4291C Biofusion PLC 20 August 2007 For immediate release 20 August 2007 BIOFUSION PLC ("Biofusion" or "the Company") CELLTRAN SUCCESSFULLY COMPLETES #1 MILLION FUND RAISING Biofusion plc (AIM: BFN), the university IP commercialisation company that turns world class research into business, is today pleased to note that Celltran Limited ("Celltran"), one of Biofusion's portfolio companies from the Sheffield University partnership that focuses on active wound healing, has announced the successful completion of a #1 Million fund raising. Biofusion has participated in the funding round and holds a 15.5% equity stake in Celltran. Commenting on Celltran's fundraising, David Baynes, Chief Executive of Biofusion, said: "We are delighted to see such strong support from Celltran's existing shareholders in this funding round. Celltran now has additional funds, together with the revenue generated from product sales, which will be used to advance the development and commercialisation of its active woundcare product portfolio." For further information about Biofusion please contact: Biofusion +44 (0)114 275 5555 David Baynes, CEO Buchanan Communications +44 (0)20 7466 5000 Lisa Baderoon / Mary-Jane Johnson / Catherine Breen Nomura Code +44 (0)20 7776 1200 Phil Walker / Clare Terlouw Celltran's announcement follows: Celltran Limited ("Celltran" or "the Company") CELLTRAN SUCCESFULLY COMPLETES #1M FUND RAISING ROUND Sheffield (United Kingdom), 20 August 2007 Celltran Limited, the biotechnology company focused on developing cell therapy products for wound healing, is pleased to announce today the successful completion of a #1 million funding round. Celltran's strategy is to provide globally accessible, highly effective and economically viable cell therapy products that heal a wide variety of wounds. This investment round, which was led by Yorkshire Fund Managers, was supported by all existing shareholders and included investments from South Yorkshire Investment Fund, Innogenetics NV, Biofusion plc, White Rose Technology Seedcorn Fund and PUK Ventures. Celltran's portfolio of products includes the lead product, MyskinTM, which is currently generating revenues and is marketed in the UK. LyphodermTM, which will shortly enter Phase 3 clinical trials, consists of freeze-dried skin cells of allogeneic (donor-derived) origin which has enhanced storage, shelf-life, and easy application properties. In addition, Celltran has two further therapies, Ulcodress plusTM and CryoskinTM, that are close to obtaining marketing approval. Commenting on the fund raising, Mal Jarmolowicz, Chief Executive Officer of Celltran, said: "We were delighted by the support from our existing shareholders in this funding round. The investment round enables CellTran to advance the commercialisation of its core products including Ulcodress plusTM for the treatment of static chronic wounds and CryoskinTM, indicated as a first-line treatment for burns' patinets where there is a clear unmet medical need. The market entry of these products, alongside the revenues generated by MyskinTM and the imminent entry of Lyphoderm into phase III clinical studies, clearly demonstrate the Company's excellent progress towards its goal of becoming a leading global provider of active products to heal wounds and treat burns." For further information, please contact: Celltran Limited Mal Jarmolowicz, Chief Executive Officer Tel.: +44 (0)14 222 0980 www.celltran.com Buchanan Communications Mary-Jane Johnson / Catherine Breen Tel.: +44 (0)20 7466 5000 About Celltran Celltran is a UK biotechnology company specialising in developing cell therapies to heal wounds. Incorporated in 2000, Celltran has raised over #5 million in venture finance. This has enabled Celltran to trial and launch MyskinTM in the UK. The positive response from clinicians and patients alike is highlighted by the fact that MyskinTM has been supplied to burns, plastics and vascular specialties as well as to the initial target market of foot ulcer wound care clinicians. Celltran benefits from UK sales from MyskinTM and is currently negotiating licensing deals for all products in territories outside the UK, as well as exploring new routes to market in the UK. With growing revenues and license income, supported by a strong development pipeline, Celltran continues to build value for its majority shareholders; Innogenetics NV, Biofusion plc, White Rose Technology Seedcorn Fund, The YFM Group, South Yorkshire Investment Fund, PUK Ventures and the Wellcome Trust. Over 13 million patients worldwide suffer from chronic wounds each year, of which 25 per cent of patients have chronic wounds that can be treated with an active therapy including those with burns and diabetic and venous ulcers. The active therapy sector of wound care is a fast growing area with a CAGR of 28 per cent and includes skin cell therapies, products incorporating growth factors and products which affect the activity of enzymes in the wound bed Celltran maintains a close relationship with the University of Sheffield through several advanced stage R&D collaborations Forward looking statement This press release contains forward-looking statements that involve risks and uncertainties, including but not limited to projections of future revenues, operating income, and other risks. Prospective investors should be aware that these statements are estimates, reflecting only the judgments and projections of Innogenetics' management, and no undue reliance should be placed on such forward-looking statements. About Biofusion Biofusion was established in 2002 to commercialise university-generated IP. Biofusion has signed long term agreements with two of the UK's top ten research intensive universities (University of Sheffield and Cardiff University) giving a combined R&D spend attributable to Biofusion of approximately #114 million a year. The Company has a portfolio of 23 spin-out companies. Biofusion's first agreement was a ten-year exclusive arrangement with the University of Sheffield for the commercialisation of IP owned by the University in the area of medical life sciences. Biofusion has shareholdings in a portfolio of 16 Sheffield University spin-out companies including Asterion, Axordia, Celltran, Lifestyle Choices, Diurnal and Phase Focus. The University of Sheffield was ranked 5th in the UK for the quality of its life sciences research and will be spending an estimated #0.5bn of research funding over the lifetime over the life of the Sheffield Agreement. In January 2007, Biofusion completed a long-term exclusive agreement with Cardiff University, to commercialise 100% of all Cardiff University's research-generated IP. Biofusion has shareholdings in a portfolio of seven Cardiff University spin-out companies including Abcellute, Q-Chip and Cardiff Protides. Cardiff University was ranked 7th in the UK in the most recent research rankings and will be spending over #1.0bn of research funding over the lifetime over the life of the Cardiff Agreement. This information is provided by RNS The company news service from the London Stock Exchange END MSCSFEFAWSWSESA
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