BIOFOCUS PLC

                                INTERIM RESULTS

                     for the six months ended 30 June 2004

BioFocus plc, a world leader in collaborative drug discovery, is pleased to
announce its results for the six months ended 30 June 2004.

Highlights:

  •    Turnover down 4.6% to £7.12m (2003: £7.46m)

  •    Profit before goodwill amortisation up 67% at £0.10m (2003: £0.06m)

  •    EPS before goodwill amortisation 1.44p (2003: 0.23p)

  •    Research and development expenditure increased to £1.05m (2003: £0.96m)

  •    Strong performance from New Products division

  •    First milestone received from Amgen collaboration

  •    Downstream return pipeline now 43 programmes

  •    Announced today, lead series out-licensed to Biovitrum (see separate
       release)

Commenting on the results BioFocus' Chief Executive, Geoff McMillan, said:

'Substantial progress has been made this year in developing assets and
capabilities which can deliver both short and long-term value. As of today the
aggregate potential milestones arising from our collaborative programmes are
valued at £94 million endorsing our strategy of maximising returns from our
technologies and programmes.'

For further information, please contact:

BioFocus                                                      +44 (0)1799 533500
Geoff McMillan, Chief Executive
Stephen France, Finance Director

Buchanan Communications                                      +44 (0)20 7466 5000
Mark Court/Rebecca Skye Dietrich

About BioFocus

BioFocus is a leading drug discovery company working in partnership with major
pharmaceutical and biotechnology companies. Additionally it is developing a
portfolio of internal drug discovery programmes aimed at providing drug leads
for partnering. The company was founded in 1997 and is quoted on the Alternative
Investment Market of the London Stock Exchange. BioFocus works with a wide range
of global clients and has provided services and/or products to 24 out of the top
30 pharmaceutical companies worldwide.

BioFocus has concentrated its work in three target areas.  These are kinases,
which are important in the treatment of cancer, heart failure and arthritis;
G-protein coupled receptors, implicated in many diseases including depression,
high blood pressure and diabetes; and ion channels, which are linked to
conditions such as angina, epilepsy and rheumatoid arthritis.

For further information please visit 
www.biofocus.com

.

                              Chairman's Statement

I am pleased to report BioFocus' interims results for the six months to 30th
June 2004.

The Company has continued its evolution towards a fully integrated drug
discovery business. BioFocus has achieved its first out-licensing deal in which
Biovitrum has purchased a lead series out of the ongoing joint venture between
the companies. BioFocus retains a downstream interest in the programme and
therefore will benefit as the drugs move through the later stages of
development.

This deal is an important step in the validation of the Company's scientific
capability and business model. The number of programmes in which BioFocus has
ownership or rights to downstream returns now stands at 43 and the cumulative,
potential development and in-market milestone payments is now £94 million, plus,
in some cases, royalties. The Board believes that the Company is now building
real medium to long term value over and above the contract services and products
business, to which the Board remains committed and is looking to expand over
time.

Financial Performance

Turnover for the six months to 30th June was £7.12 million, down from £7.46
million in the comparative period. The market for medicinal chemistry and
biology services remains challenging. This year, nearly all of our new libraries
will be launched in the second half of the year and this has had the effect of
reducing the income from the sale of discovery products in the first half. Our
New Products division, which is responsible for leveraging BioFocus' drug
pipeline and considerable technology capability, has produced notable successes
in the period, emphasising the Company's ability to gain sales and profits from
various sources other than its traditional markets of fee for service and
compound libraries.

Profit before amortisation of goodwill was £0.10 million (2003: £0.06 million).

Basic earnings per share before amortisation of goodwill was 1.47p (2003:
0.23p). Fully diluted earnings per share before amortisation of goodwill was
1.44p (2003: 0.23p). Operating profit improved through a change in sales mix
towards high margin technology transfer business. Higher interest rates and
improved cash management reduced the net interest payable. The Company has also
benefited from a tax credit.

Research and Development

Expenditure on research and development in the period was £1.05 million (2003:
£0.96 million). This expenditure represents our continuing efforts to progress
our own drug discovery programmes and those contained in the joint venture with
Biovitrum. The Company has recently announced an agreement with Fulcrum Pharma,
an organisation that is expert in managing drug development, to collaborate on
our programme targeted towards Rho-kinase, which the Board considers to have the
potential to be a commercial success in the area of cancer. It is hoped that
this drug will be ready to enter clinical trials in 2006.

In addition to the programme sold to Biovitrum, BioFocus has three further drug
leads ready for out-licensing and initial interest from potential partners has
been encouraging.

The launch of new SoftFocus(TM) compound libraries is going as planned. The 
first library focussing on ion channels was released in July and has achieved a 
sale to a major pharmaceutical company. Later in the year, libraries targeted 
towards Family B GPCRs will also be available. Furthermore, the collaboration 
with CSS, which was announced recently, will broaden the range of libraries into
nucleases.

Change of Year End

I would like to take the opportunity to remind shareholders that the Company's
current accounting period will be extended to 31st March 2005. Interim results
for the twelve months to 31st December 2004 will be issued early in the New
Year. This change will enable the Company to better manage the annual peak of
sales in December and to give the market better guidance on anticipated annual
results.

Outlook

In recent weeks BioFocus has announced new collaborations and the market for
services remains stable. As ever the results for the calendar year 2004 will be
dependent upon the sales of compound libraries in the last quarter but the Board
is confident that all steps have been taken in terms of new libraries to
maximise the Company's performance in the coming months....