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Biotech / Medical : Small Cap Foreign Biotech

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To: keokalani'nui who wrote (341)1/21/2005 10:43:26 AM
From: nigel bates   of 363
 
Biofocus renewed their Amgen chemistry deal last week, and announced another little deal today. Market cap. is about $32m...



BioFocus enters major new cancer drug discovery collaboration
with Memorial Sloan-Kettering Cancer Center ('MSKCC')

Chesterford Research Park, UK (21st January, 2005) - BioFocus plc (AIM: BIO), a
world leader in collaborative drug discovery, today announces that it has
reached agreement to collaborate with Memorial Sloan-Kettering Cancer Center, a
leader in the discovery and development of novel cancer treatments.

Under this collaboration BioFocus will supply several of its SoftFocusTM
compound libraries to MSKCC. BioFocus will also retain a meaningful share in the
value of drugs discovered and developed by MSKCC or its partners as a result of
the screening of these libraries by MSKCC against multiple cancer targets. The
world market for cancer therapies was estimated at £20 billion in 2004.

Geoff McMillan, BioFocus' Chief Executive, said: 'This partnership will build
further the already considerable portfolio of long term value retained in our
business. By leveraging our world leading SoftFocusTM libraries in this way we
increase the long term value of the Company while offsetting the costs and risks
associated with drug development. We are delighted to build this collaboration
with an institution of international renown with such powerful drug discovery
and development capabilities.'

David A. Scheinberg, MD, PhD, Chairman of the Experimental Therapeutics Center
at MSKCC, said: 'This collaboration with BioFocus is part of our expanding
initiative in drug discovery and development at MSKCC. Our goal is the rapid
progression of potential anti-cancer agents into the clinic.' The Experimental
Therapeutics Center at MSKCC promotes and facilitates the development of new
cancer therapies through wide ranging multidisciplinary activities, from basic
chemistry and biology to clinical investigations.

Hakim Djaballah, PhD, Head of Screening at MSKCC, commented 'Kinases as
therapeutic targets have been well validated in the industry and having access
to the BioFocus kinase targeted libraries would enhance our ongoing efforts for
the identification of novel chemical scafolds against cancer-related kinases,
especially for those where resistance to current treatments have been reported...'
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