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Biofusion plc successful IPO launchBiofusion plc ("Biofusion" or the "Company") today announces it has published its Admission Document relating to an £8.2m fundraising (the "Placing") and to the admission of all of the Company's ordinary shares to trading on AIM ("Admission"), which is expected to take place on Wednesday 2 February 2005. The new ordinary shares are being placed with institutional investors at 150p per share, raising approximately £8.2m and giving the Company a market capitalisation of approximately £28.2m immediately following Admission. Biofusion was established in 2002 to commercialise university-generated intellectual property ("IP") and has signed 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. Commenting on today's announcement, Doug Liversidge, the Chairman of Biofusion said: "We are delighted to have successfully completed our IPO. We are already working closely with the University of Sheffield to generate value from its IP in the medical life science sectors and the spin-off companies that have already been created. The capital we have now raised will be used to finance the development of these companies and to establish and develop new portfolio companies. We are confident this will allow us to generate considerable value for shareholders and we look forward to our future as a listed company." Professor Bob Boucher, (Former) Vice-Chancellor of the University of Sheffield, said: "Biofusion's successful IPO marks an important day for the University of Sheffield. The Biofusion model has huge potential for commercialisation of university-based research, and it fits well with current Government and university thinking on fostering innovation from within the academic community." Contacts: Biofusion Doug Liversidge - +44 (0) 7798 892918 David Baynes - +44 (0) 7976 351896 Peter Grant - +44 (0) 7768 255440 Citigate Dewe Rogerson Chris Gardner/David Dible - +44 (0) 20 7638 9571 Code Securities Phil Walker - +44 (0) 20 7024 2003 University of Sheffield Jon Pyle - +44 (0)114 222 1038 |
