Biofusion: still finding its way.
Investors Chronicle - magazine and web content, October, 2007
Biofusion's full-year results showed that it needs to find ways to exit investments sooner rather than later Richard Hemming
At Biofusion's full-year results, chief executive David Baynes trumpeted the company's partnership with Cardiff University and its successful exit from three investments.
But the bottom line for investors is a bigger full-year loss due to higher operating costs and the consolidation of losses from its investment companies. Biofusion has investments in 24 research businesses and aims to commercialise university-generated intellectual property.
Mr Baynes says that Biofusion's cash burn - net cash outflow was GBP2.3m prior to financing - means that the pressure is on for meaningful exits from its investments. But in the...
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