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Sheffield University and Biofusion expand deal - 07/07/08
Sheffield-based group Biofusion and Sheffield University have expanded their ten-year long deal this week to include research into non-life science.
The move comes after Biofusion secured £2.11 million by share placing with investors and foreshadows the firm's plans to change its name to Fusion IP, reports the Business Desk.
David Baynes, chief executive of Biofusion, told the news provider that the widening of the remit of Sheffield University's contract would give the firm access to "world class research in areas such as energy, engineering and electronics".
He added: "We are confident that Biofusion will continue to expand its business model across additional universities in the future."
Biofusion says on its website that its future growth will be a "balance of short, medium and long-term investment" that will allow the company to enjoy steady returns.
It adds that developing its current portfolio of companies, creating new spin-out firms and entering into new relationships with universities and academic institutions is high on its list of priorities. 
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