060705 Extract number from text/number string..

is there a way to make the following work? thanks

=IF(CC9="","",--MID(LEFT(CC9,LEN(CC9)-8),SEARCH("<b><i>",CC9)+3,255))

to extract: 0.16 from: (formula above gets #Value error)
<i>11:19am</i> - <b><i>0.16</i></b>

----------
other variation, have formula that works for different input:
=IF(CC9="","",--MID(LEFT(CC9,LEN(CC9)-4),SEARCH("<b>",CC9)+3,255))

11:35am - <b>0.5601</b>