Biomedix loss

K S BIOMEDIX, a biotechnology company which develops drugs from sheep, yesterday reported a 20 per increase in pre-tax losses to pounds 1.02m from pounds 847,000 a year ago.

The group, which plans to move from the junior Alternative Investment Market to the main list next month, said laboratory work and drug trials were the main item of expenditure.

It added that it expected to complete phase II trials for its anti-arthritis drugs by the end of the year.