Notice Of Interim Report and Accounts

    RNS Number : 7684U
  Biofusion PLC
  19 May 2008
   

 For immediate release  19 May 2008

    BIOFUSION PLC
    ("Biofusion", "the Company" or "the Group")

    NOTICE OF INTERIM REPORT AND ACCOUNTS
    Biofusion plc (AIM: BFN), the university IP commercialisation company that turns world class research into business, announces that the
Company's Interim Report and Accounts for the six months ending 31 January 2008 has been posted to shareholders. A copy of the report can be
found on the Company's website: www.biofusion.co.uk.
    For further information please contact:
 Biofusion                                             [phone]
 David Baynes, CEO
 Buchanan Communications                               [phone]
 Mary-Jane Johnson / Lisa Baderoon / Catherine Breen 
 Nomura Code Securities                                [phone]
 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.
    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, 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 Cardiff University spin-out companies including Abcellute,
Q-Chip and Morvus. Cardiff University was ranked 7th in the UK in the most recent research rankings and will be spending more than £1.0bn
of research funding over the lifetime over the life of the Cardiff Agreement.
    In September 2007 Biofusion signed a Memorandum of Understanding with Finance Wales, the provider of commercial funding to Wales-based
SMEs, detailing a co-investment strategy for investing in opportunities arising from Biofusion's exclusive IP pipeline agreement with
Cardiff University. Finance Wales already manages funds of more than £130m and has to date invested approximately £85m in Wales. 

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
DOCALMBTMMBBBMP