Celltran Fundraising

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                                                    [phone]
David Baynes, CEO

Buchanan Communications                                      [phone]
Lisa Baderoon / Mary-Jane Johnson / Catherine Breen

Nomura Code                                                  [phone]
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.: [phone]
www.celltran.com

Buchanan Communications
Mary-Jane Johnson / Catherine Breen                    Tel.: [phone]






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.


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