Fusion Antibodies Share News (FAB)

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Avingtrans PLC - Cambridgeshire-based designer of components for the energy, medical and industrial sectors - Its Booth Industries unit wins a deal worth of GBP7.5 million to supply high-integrity steel doorsets for the HS2 rail line's Old Oak Common station in London. The deal is over a four-year period. "In addition to this, the company has been awarded a strategically significant multi-year contract to provide maintenance services for the tunnel doors on the Elizabeth Line for Transport for London, worth up to GBP1 million in total," it adds. "Old Oak Common is expected to become one of the UK's busiest and most strategically important rail hubs, providing a critical interchange between HS2, the Elizabeth Line, and National Rail services. The doorsets to be supplied by Booth Industries will play a key role in safeguarding passengers, ensuring fire integrity, and supporting secure access control within this high-profile transport environment."

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Metals Exploration PLC - Philippines and Nicaragua-focused gold producer, explorer and developer - Reports that a six-weak deferral of gold output at Runruno, located around 200 kilometres north of Manila. "The deferral of gold production is to allow new process monitoring and production procedures to be implemented following a cyanide contamination impacting the BIOX circuit," Metals says. "However, the company can confirm that, despite the temporary pause in production, as at the date of this announcement, no amendment to the company's 2025 production forecast range is required." However, it expects output at the lower end of the 70,000-75,000 ounces range. CEO Darren Bowden "We are disappointed that we have had to temporarily defer ore processing operations at Runruno due to the contamination impacting the BIOX circuit. However, we are pleased to have found the causes as to why this contamination has taken place, and are implementing additional monitoring processes to minimise the impact at present, as well as in the future." A BIOX circuit is a process which destroys other minerals and exposes gold for extraction.

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First Development Resources PLC - Australia focused exploration company with mineral interests in Western Australia and Australia's Northern Territory - Drilling partner DDH1 Drilling Pty Ltd establishes an accommodation camp and support infrastructure at the Wallal asset in Western Australia ahead of a diamond core drilling programme. The rig is now onsite, ahead of drilling "in the coming days". "When FDR secured admission to AIM last month, we said we would immediately deploy funds into the ground and today's announcement demonstrates we are doing just that," Chief Executive Officer Tristan Pottas says. First Development Resources made its AIM debut in July, at 6.67p per share. The stock is up roughly a quarter since, trading at 8.30p on Thursday morning in London.

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Carr's Group PLC - Carlisle, England-based agriculture products, including livestock supplements - Reports that its distribution partnership with Seales Winslow in New Zealand "has proved successful". Carr's notes "operational transition and customer migration benefits ahead of schedule". "I am delighted that the first year of our strategic distribution partnership with Seales Winslow has been a success. Through this partnership, we're pleased to continue to support New Zealand's farmers and livestock industry through our research-driven supplements that boost profitability, improve resource efficiency and reduce environmental impact," Chief Executive Officer Joshua Hoopes says.

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Solvonis Therapeutics PLC - London-based biopharmaceutical company focused on addiction and mental health disorders - Solvonis reports that it has entered into a central nervous system research "collaboration" with David Nutt, who is also the firm's chief scientific officer. Nutt will "work exclusively with the company in the field of commercial drug discovery and development for CNS disorders". The amendments to an existing agreement mean Nutt's role at the firm increases to two days per week and his "commercial CNS drug discovery and development expertise will be applied solely to Solvonis' programmes". He will also be interim chair of the firm's scientific advisory committee.

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Fusion Antibodies PLC - Belfast-based contract researcher that provides discovery, design and optimisation services for therapeutic antibodies - Fusion has been picked for a new humanisation project under an existing deal with the specialty division of a global pharmaceutical company based in the US. "While the company expects to generate modest revenues from the humanisation project, it demonstrates Fusion's ability to win contracts with 'big pharma' companies. This is seen as a significant part of the company's strategy not only in reducing dependence on more volatile smaller clients," it adds. Humanisation is a process to change antibodies derived from non-human sources.

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By Eric Cunha, Alliance News news editor

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