Investment sale
The technology commercialisation specialist Biofusion plc said that as part of the sale of Plasso Technology Limited to the medical technology company Becton, Dickinson and Company, Biofusion has disposed of its 9.1 per cent shareholding in Plasso. Financial terms of the deal were not disclosed.
David Baynes, CEO of Biofusion said: “Although our holding in Plasso was relatively small and the terms have not been disclosed, we are nonetheless pleased to realise its value.”
Plasso is developing surface coatings for research equipment that make it possible to immobilise proteins on solid surfaces without modifying them.
The company was spun out from the Department of Engineering Materials at Sheffield University and received early stage funding from the White Rose Technology Seedcorn Fund, a fund formed to commercialise research from the universities of York, Leeds and Sheffield. In 2005 East Hill Management of Boston, USA led the first round investment in Plasso.
Biofusion was founded in 2002 to commercialise university intellectual property and has exclusive IP pipeline agreements with the universities of Sheffield and Cardiff. It currently has 24 companies in its portfolio.
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