TRADING UPDATES: MGC Pharmaceuticals granted psilocybin import permit

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

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Destiny Pharma PLC - Brighton, England-based clinical-stage biotechnology company focused on preventing life-threatening infections - Says data shows its XF-73 antibacterial drug proves 100 times more effective at killing MRSE than the topical antibiotic mupirocin in two skin infection models. Says Mupirocin ha little or no impact on mupirocin-resistant MRSE strains, whereas XF-73's potency was unaffected. Chief Scientific Officer Bill Love says: "This dataset is compelling and demonstrates clear and significant advantages for XF-73 over one of the world's leading topical antibiotics, mupirocin. It adds further impetus for the clinical development of XF-73 to treat skin infections for CMS and Destiny Pharma."

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Tekcapital PLC - intellectual property investment company - Says its 97%-owned subsidiary MicroSalt Ltd has agreed partnership deals witg two Philippines-based partners, Healthy Options and S&R Membership Shopping. Says both companies have placed "sizeable" first orders for its SaltMe! crisps, and have shown interest in future orders. Says S&R offers "substantial penetration" into the Philippines. MicroSalt Chief Executive Rick Guiney says: "We are proud of our partnership with both organizations and to be able to expand our low sodium premium line of crisps to the Philippine marketplace. Excess sodium consumption is one of the leading contributors to hypertension, and partnerships like this are the best way to provide consumers, regardless of their location, with great tasting products with less sodium."

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MGC Pharmaceuticals Ltd - London-based pharmaceutical company specialising in the production and development of plant-derived medicines - Says it has been granted an import permit for 200 grammes of psilocybin raw mushroom material to its Slovenian research facility from Psyence Group Inc's production site in South Africa. Says it will perform analysis on the material in order to assist Pysence in developing new psilocybin products. Psilocybin is a naturally occurring psychedelic prodrug compound produced by more than 200 species of fungi. Chief Executive Roby Zomer comments: "We are delighted to receive the first import approval of psilocybin under our collaboration with Psyence, which constitutes our first entry into the psilocybin market. This partnership marks a significant milestone for MGC Pharma following our recent approval for psilocybin research in our Slovenian facility and reinforces our commitment to growth and innovation."

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Duke Royalty Ltd - Europe and North America-focused alternative capital solutions provider - Enters into USD11.5 million royalty financing deal with Glasshouse Products LLC. Says the deal is for 30 year of secured financing. Chief Executive Neil Johnson says: "Glasshouse's long-standing presence and reputation in the Texas market is rooted in its ability to act as a one-stop-shop for glass solutions to the real estate markets, offering high-quality products with exceptional customer service. Given the industry's promising prospects and the region's favourable tailwinds, we believe the company is well positioned for continued success."

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Infrastructure India PLC - India-focused infrastructure fund - Says it has agreed on maturity date extensions for all its debt facilities. Says the term loan of USD119 million has been extended to August 31, the current amount of interest accrued is USD79 million. Adds that working capital loan of USD21.5 million has been extended to August 31. It has currently accrued USD26 million in interest. Says its unsecured bridging loan of USD64.1 million has also been extended to August 31, with USD53 million of interest accrued. Says the maturity extensions allow it to continue working towards completing the proposed sale of its largest asset Distribution Logistics Infrastructure Ltd.

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By Harvey Dorset, Alliance News reporter

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