BFN Biofusion

    RNS Number : 5527W
  Biofusion PLC
  12 June 2008
   

 For immediate release  12 June 2008

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

    BOARD CHANGE
    Biofusion plc (AIM: BFN), the university IP commercialisation company that turns world class research into business, announces today
that Simon Oakland, Non-Executive Director of Biofusion, has ceased to work for NPI Ventures Limited (NPI) and as a result will no longer
serve on the Board of Biofusion. Jim Totty, NPI's alternative representative to Biofusion, will continue to represent NPI at Biofusion's
Board meetings.  
    Commenting on this announcement, David Baynes, Chief Executive Officer of Biofusion, said: "We would like to thank Simon for his
representation on the Board of Biofusion since he joined in 2006.  Simon, as a director of NPI Ventures, brought with him a wealth of
corporate finance and investment experience and we wish him good luck for the future."  
    For further information please contact:
 Biofusion                                             +44 (0)114 275 5555
 David Baynes, CEO
 Buchanan Communications                               +44 (0)20 7466 5000
 Mary-Jane Johnson / Lisa Baderoon / Catherine Breen 
 Nomura Code Securities                                +44 (0)20 7776 1200
 Phil Walker, Clare Terlouw

    About Biofusion plc
    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. 

    About NPI Ventures Limited
    Established in 2002, NPI Ventures Limited is a technology investment business wholly owned by Nikko Principal Investments Limited, owned
by Nikko Citi Holdings. NPI Ventures manages and develops a portfolio of investments in early stage research and technology related spin-out
companies.  

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