These obscure stocks could alter the face of medicine

In ten years' time, the face of medicine could look very different, as research promises to find the key to diseases such as cancer and diabetes. Tom Bulford looks into one of biotech's most promising fields, and picks one small-cap company to watch.

When I was a fund manager back in 2000 the dotcom bull market blazed in all its glory. Each day, analysts and brokers would visit our office to push their latest idea. By the time they left the room, our heads were spinning. These technology experts might have known the difference between bytes, middleware and dongles, but we certainly didn't - although no doubt we nodded our heads sagely as if it was all crystal clear.

It was all too easy to dismiss these fancy new companies with their high-tech dreams and fresh-out-of-college directors. The dotcoms duly crashed in 2001. Those who followed the rule of 'never invest in anything that you do not understand' felt smug.

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Tom worked as a fund manager in the City of London and in Hong Kong for over 20 years. As a director with Schroder Investment Management International he was responsible for £2 billion of foreign clients' money, and launched what became Argentina's largest mutual fund. Now working from his home in Oxfordshire, Tom Bulford helps private investors with his premium tipping newsletter, Red Hot Biotech Alert.