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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Clinigen Group PLC - Staffordshire-based pharmaceuticals and services provider - Signs exclusive agreement with Secura Bio Inc for the supply and distribution of Copiktra in most of Europe. Copiktra was granted marketing authorization by the European Medicines Agency in May 2021 as monotherapy for the treatment of adults with relapsed or refractory chronic lymphocytic leukemia in patients who have received at least two prior therapies and for the treatment of follicular lymphoma that is refractory to at least two prior systemic therapies. Under the terms of the agreement Clinigen will market, supply and distribute Copiktra into 39 countries across Europe.
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Tufton Oceanic Assets Ltd - London-based maritime assets investor - Company's investment manager commits to align its funds to the Paris Agreement by fully transitioning them to zero carbon energy sources by 2050 and investing in zero carbon capable vessels before 2030. "These new commitments are significantly ahead of current industry targets and aligned with those of other industry leaders who have also been members of the Getting to Zero Coalition alongside the Investment Manager since September 2019," company says.
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SDI Group PLC - Cambridge-based medical technology firm - Makes good start to new financial year, saying it has been "modestly" above internal expectations. "Board remains confident that results for the full year will be delivered at least in line with market expectations," company adds. Says ​its average forecast for sales in financial 2022 will be GBP42.1 million with adjusted pretax profit of GBP8.5 million. In year ended April 30, 2021 revenue was GBP35.1 million with pretax profit at GBP5.6 million.
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Agronomics Ltd - Isle of Man-based alternative proteins company - Investee Mosa Meats BV secures funding from actor Leonardo DiCaprio, who will now act as an advisor to Mosa Meat. Agro has roughly 1.6% stake in Mosa. Mosa Chief Executive Maarten Bosch says: "Leonardo DiCaprio's work to bring about positive change is closely aligned with our mission at Mosa Meat. We are thrilled to bring him on board as advisor and investor and work together to feed current and future generations sustainably." Mosa grows beef directly from animal cells.
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Helios Underwriting PLC - London-based investment vehicle which acquires and consolidates underwriting capacity at Lloyd's - Buys North Breache Underwriting Ltd, a limited liability member of Lloyd's of London. Total deal worth GBP3.9 million, with GBP3.4 million paid in cash and the rest settled in issue of 304,878 new shares at 164 pence each. The 2021 underwriting capacity of North Breache is GBP3.9 million. "In addition to the North Breache transaction, Helios is continuing to pursue a number of further Lloyd's LLV acquisitions in line with its strategy. Terms have been agreed in principle and contractual documentation is being finalised for a further 21 limited liability vehicles which in aggregate have capacity of GBP22.7 million," company adds.
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Kanabo Group PLC - medical cannabis research and development - CBD products are now available for sale on UK eCommerce site dedicated to CBD, HandpickedCBD.com. "HandpickedCBD is one of the largest online CBD marketplaces in the UK listing 50 brands and more than 500 products from oils, edibles, drinks, topicals, vapes and capsules. HandpickedCBD is a wholly owned by Materia," company explains. Chief Executive Avihu Tamir adds: "Consumers now have access to the most potent yet non-intoxicating CBD formulas with only the highest quality of ingredients. Kanabo's R&D team has created these fast-acting formulas with the health and wellness of consumers in mind. We believe this agreement clearly demonstrates how closely the companies are already working together to bring Kanabo's proprietary products to market and accelerate the path to commercial sales volumes."
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IXICO PLC - neuroimaging and digital biomarker analytics firm - Wins new contract with a value of more than USD750,000 over 2 years for advanced neuroimaging by an unnamed "top 5 global Clinical Research Organization" to support its sponsor's Phase II Alzheimer's disease clinical trial. "Conducted across 41 investigator sites within the US and Europe, the clinical trial will enrol patients with Mild to Moderate Alzheimer's Disease to evaluate the safety and efficacy of a subcutaneously administered investigational product," company says. Chief Executive Giulio Cerroni adds: "One of the core elements of our commercial growth strategy has been to establish strong relationships with select therapeutically aligned partner CROs. This enables greater access to new biopharmaceutical clients and accelerates the adoption of our proprietary neuroimaging technology solutions, at scale."
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Xtract Resources PLC - copper-gold projects in Australia, Mozambique and Zambia - Finds "particularly interesting" drill results from hole BRDD-21-017 from the Phase 2 diamond drilling programme at the Racecourse copper-gold deposit on the Bushranger project, located in the Lachlan Fold Belt of New South Wales, Australia. Hole completed at a total depth of 621.6 metres and tested the eastern contact of the porphyry, which has been little drill tested to date, company says, and intersected a 607 metres interval of visible chalcopyrite mineralisation from a shallow downhole depth of 11 metres. Executive Chair Colin Bird adds: "BRDD-21-017 is particularly interesting as it is the first drill hole in this drilling campaign to test for mineralisation on the eastern contact of the porphyry and two extensive mineralised zones were intersected which provide the potential for near surface ore to add to the conceptual open pit."
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Rambler Metals & Mining PLC - Canada-focused copper and gold producer, explorer and developer - Notes Newfoundland & Labrador provincial government in Canada ups its Covid Alert to level 3, out of 5, in the Baie Verte area, where it has a project. "Rambler will adhere to all guidance and directives issued by the health authority. We are deemed to be an essential service by the province and will implement any and all measures to protect the health and well being of our workforce," company says.
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Alien Metals Ltd - minerals exploration and development company - Maiden inferred iron ore reserves at Hancock Iron Ore Project in the Pilbara region of Western Australia in excess of 10 million tonnes at 60.4% iron. Chief Executive Bill Good says: "We are really pleased to have delineated in excess of 10 million tonnes of direct shipping ore iron ore with our initial mineral resource statement at Hancock. With only a quarter of the Western Ridges targets tested to date, we believe there is considerable scope to grow the DSO resource over the next 6 months. Having a sizeable maiden resource is encouraging; having DSO material with low impurities is even more pleasing and we are pushing ahead on the scoping study work with Mining Plus and continued planning for the Phase 3 drilling programme."
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Kavango Resources PLC - mineral exploration company with operations in Botswana - Appoints new senior commercial and exploration personnel to help Botswana exploration. Hires Tiyapo Ngwisanyi as managing director of Kavango Minerals; and John Lauderdale and Jeremy Brett as senior consulting geologists. Chief Executive Ben Turney says: "I am delighted to welcome Tipps, John and Jeremy on board. Each brings valuable skills, expertise and experience to Kavango. These senior appointments are the culmination of months of hard work and reflect the significant progress we have made as a business over the course of 2021. We still have a lot to do to make our first discovery, but it feels like the pieces are falling into place."
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Advance Energy PLC - upstream oil and gas company - Says Buffalo-10 well, at the Buffalo project offshore Timor-Leste, on schedule to spud in early November 2021. Notes mid-case recoverable volume estimate is 34 million barrels in the Buffalo field. Advance holds a 50% working interest in Buffalo. Chief Executive Leslie Peterkin says: "The joint venture has been working hard to ensure everything is lined up to enable the safe drilling of this material well for the company. The joint venture is confident of Buffalo-10 being both a geological and economic success, and is therefore laying the groundwork to bring the field into production on an accelerated timeline. We look forward to providing a further update to confirm that the rig is in transit to location in due course."
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Caerus Mineral Resources PLC - exploration & resource development company focussed on Europe - Diamond drill rig heading for Troulli project now to arrive one month ahead of schedule. Chief Executive Martyn Churchouse says: "The preliminary work undertaken over the past few months is starting to deliver results and the benefits of having two drill rigs available to us on a full-time basis is becoming evident. We have a well-defined drill programme prepared for Troulli and depending on the results of the scout drilling we expect to be able to roll out the diamond programme to include the prospective structure linking the Troulli and Kokkinapetra deposits and potentially increasing resource tonnes well beyond our projected estimates."
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IQ-AI Ltd - Jersey-based medical services firm - Wins European patent for "Multiparameter Perfusion Imaging with Leakage Correction". "Already patented in the USA, this technology, also referred to loosely as 'dual-echo', is a combined magnetic resonance imaging acquisition and post-processing technology. IQ-AI subsidiary, Imaging Biometrics LLC, already possesses the post-processing technology made available in IB Neuro," company explains.
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Path Investments PLC - energy and natural resources investment company - Enters conditional sale and purchase agreement to buy entire issued share capital of DG Innovate Ltd. As part of the deal, Path provided a secured loan facility to DG Innovate of up to GBP600,000.
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Prospex Energy PLC - investor in onshore and shallow offshore European gas and power projects - Joint venture Tarba Energia SL approves budget for well intervention work at its gas to power project at El Romeral in southern Spain. Tarba is the operator of the plant. "Upon success, the well workover has the potential to increase gas production by up to 15,000 cubic metres per day and allow the subsequent start-up of a second generator to double electrical output," company says. Company has a 49.9% interest in the El Romeral gas to power plant through its interest in Tarba, which is the operator of the plant. The gross budget for the well intervention work is EUR89,000, comprising EUR65,000 for the well intervention and EUR24,000 for data acquisition.
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By Paul McGowan; paulmcgowan@alliancenews.com
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