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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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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:5240F Biofusion PLC 11 October 2007 For immediate release 11 October 2007 BIOFUSION PLC ("Biofusion" or "the Company") LIFESTYLE CHOICES SIGNS US LICENCE AGREEMENT FOR PLAN AHEAD TEST Biofusion plc (AIM: BFN), the university IP commercialisation company that turns world class research into business, is today pleased to announce that Lifestyle Choices Limited ("Lifestyle Choices"), Biofusion's female fertility spin-out company, has signed a licence agreement with an undisclosed leading US reproductive diagnostics company (the "Partner"), for the exclusive rights to sell the Lifestyle Choices' Plan Ahead test, which helps measure a woman's ovarian reserves, in North America and Canada. Under the terms of the agreement, the Partner will be given exclusive rights to market, sell and distribute Plan Ahead in North America and Canada through its extensive network of specialty physicians. Lifestyles Choices will receive an agreed fee, on a sliding scale, per test that is sold with a commitment by the Partner to selling an agreed minimum number of tests per year. The Partner expects to launch the Plan Ahead test in the US before the end of 2007, upon which time the Partner's name will be disclosed. Plan Ahead is a patented triple hormone ovarian reserve test that helps a women to make more informed decisions about conception. Developed by Professor Bill Ledger, Professor of Obstetrics and Gynaecology at the University of Sheffield, Plan Ahead measures three hormone levels in the blood. The first two are the ovarian hormones, Inhibin B and AMH; and the third is FSH, a pituitary hormone. The result is a predictive assessment of the number of eggs in the woman's ovaries compared to the average range that would be expected for women of the same age. The test is accurate for up to two years ahead. Commenting on the announcement, David Baynes, Chief Executive Officer of Biofusion, said: "We are delighted to have signed an agreement with such a leading US reproductive diagnostics company for our Plan Ahead test. They have an excellent reputation in the US and we are very pleased to be working with them. "In an age where motherhood is often being postponed and the use of IVF is becoming more common, Plan Ahead provides women with the ability to make a more informed lifestyle choice about whether to try for a child sooner rather than later. We are confident that there is a strong market for Plan Ahead in the US and Canada and look forward to its success in these territories." For further information about Biofusion please contact: Biofusion +44 (0)114 275 5555 David Baynes / Stuart Gall 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 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 Sheffield University spin-out companies including Asterion, Axordia, Biohydrogen, 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 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. About Lifestyle Choices Lifestyle Choices launched its first product, a new triple hormone ovarian reserve test called Plan Ahead, in 2006. The test, which is available from www.boots.com, offers the most accurate hormone based ovarian reserve test available to the public, enabling women to make more informed decisions about when they try for a baby. Developed by Professor Bill Ledger, Professor of Obstetrics and Gynaecology at the University of Sheffield, the Plan Ahead test gives a predictive assessment of a woman's ovaries compared to the range that would be expected for women of the same age. The company is developing its second product aimed at the IVF market for launch in 2008. This information is provided by RNS The company news service from the London Stock Exchange END MSCUASRRBRRRARA
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