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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Journeo PLC - Leicestershire, England-based transport system services provider - Reports one-year extension to its framework agreement with Arriva UK Bus. The agreement was initially entered into in 2019 and extended in 2021. This new framework contract extension will continue to April 2024 and is expected to generate about GBP1.1 million in revenue. Says Arriva UK Bus has a fleet of approximately 5,000 buses and is the UK's third largest bus operator outside of London, with over 15% market share. Under the agreement, Journeo will provide CCTV systems and engineering support, along with technical design, new technology evaluation and project management services for new and legacy vehicles. Expects the "majority" of revenue to be recognised in this financial year. Chief Executive Officer Russ Singleton says: "We have been working with Arriva UK bus since 2010 and are delighted to continue this long-standing relationship through this framework contract extension."
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Biome Technologies PLC - Southampton-based bioplastics and radio frequency technology company - Completes convertible loan note fundraising. In March, Biome said it had conditionally raised GBP850,000 by way of a convertible loan note fundraise. It said it included two tranches: the first tranche of GBP300,000 and second tranche of GBP550,000. "It is intended that the aggregate net proceeds of the convertible loan note fundraise will be used to support the growth of the group's Bioplastics and RF Technologies divisions towards a position of group operating cash flow sustainability over time," the company said, in March.
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Totally PLC - UK and Ireland-focused provider of frontline healthcare services, corporate fitness and wellbeing services - To be included on a key framework agreement with NHS Wales for the delivery of insourcing services in the region. Says the framework agreement runs for four years from April 2023 with an option to extend for up to a further four years, subject to Welsh government approval. Explains that the agreement will help reduce waiting lists. At December 2022, waiting lists in Wales stood at a record 735,000 open patient pathways. "The framework agreement enables the rapid procurement of support to assist authorities with meeting their 'Referral to Treatment' targets as well as providing support where capacity is not available to meet service demand," Totally says.
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Oriole Resources PLC - London-based gold exploration company, focused on an early stage exploration project in Cameroon and the more advanced Senala gold project in Senegal - Receives a GBP157,000 tax rebate from HMRC in relation to a research & development tax relief claim for geoscientific advances sought by the company through its exploration programmes. The claim is for the year ended December 2022. "The successful claim demonstrates that the company qualified for the R&D tax relief by performing research work on potential areas of mineralisation in order to build the geological data necessary to assess the economic feasibility of future mining operations in those areas," the company says.
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Spectral MD Holdings Ltd - Dallas, Texas-based predictive analytics company focused on algorithms and technology that allow for fast and more accurate treatment decisions - Receives a USD4 million award from the Medical Technology Enterprise Consortium. The MTEC is a biomedical consortium collaborating with the US Army Medical Material Development Activity. Says this award will provide non-dilutive funding to support military battlefield burn evaluation via a handheld DeepView. "We are honored to receive this award to support the military with the continued development of our DeepView technology, taking overall non-dilutive government funding commitments received to nearly USD130 million," says CEO Wensheng Fan. "This funding will further Spectral MD's innovation within the burn indication and support the continued development of our handheld digital burn assessment tool."
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N4 Pharma PLC - Derby, England-based pharmaceutical company focused on developing Nuvec, a delivery system for vaccines and cancer treatments - Says it has completed the single loading of both the EGFR and BCL-2 siRNA nucleotides onto Nuvec and has produced good monodisperse formulations at all doses to be investigated. Adds that the single loaded EGFR siRNA has shown strong silencing of the EGFR gene with a good dose response curve established which has allowed the Company to identify the dose it can take into the single loaded EGFR in vivo study. CEO Nigel Theobald says: "We are very pleased with the EGFR results which show excellent knockdown of the siRNA along with a very clear dose response curve and believe this shows how well suited Nuvec is for working with siRNA."
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Smarttech247 Group PLC - managed detection & response company - Partners with Focepoint for newly released Managed Security Service Provider Program. The program is centred on Forcepoint ONE SSE cloud-native and Forcepoint enterprise data security solutions. "Smarttech247's hosted and managed services centred on Forcepoint ONE SSE cloud-native and Forcepoint enterprise data security solutions allow today's enterprises to manage risk holistically and simplify security operations. This is a potential game-changer when adversaries are constantly finding new ways to steal confidential data," says CEO Raluca Saceanu.
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By Sophie Rose, Alliance News reporter
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