Can anyone shed any light on the drop in Biofocus shares over the last week?
Up 1.5p today on some good news but this company are financially sound and no apparent reason for such a drop?

Rutherford

Surely it cannot have escaped your attention that thousands of other shares have done the same thing due to the current market sentiments.

I certainly appreciate that but most havent dropped 14% !
Thought there might have been another reason that I had missed.

Many have dropped by more than 14%

Over 50% down from last year now, has this stock been oversold?

BioFocus PLC
21 January 2005


BioFocus PLC

21st January 2005

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.'

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 17
out of the top 20 pharmaceutical companies worldwide.

About MSKCC

Memorial Sloan-Kettering Cancer Center, composed of Memorial Hospital for Cancer
and Allied Diseases and the Sloan-Kettering Institute, is dedicated to
excellence in the prevention, treatment, and cure of cancer through patient
care, research, and education. The Sloan-Kettering Institute, Memorial
Sloan-Kettering's basic-science research arm, conducts innovative programs in
biology, genetics, biochemistry, structural biology, computational biology,
immunology, and therapeutics.


For further information, please contact:

BioFocus +44 (0)1799 533500
Geoff McMillan, Chief Executive


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

have just bought in very modestly - looks to have bottomed out - any good news could see a big move up (I hope) - lots of long term value just a question of when it will be realised - can't see much downside given co has 4M of cash and market cap c.16m (I believe at current levels)- co needs to deliver more positive news and eps growth to really motor though - any views?

Price up 86%!

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