ReNeuron Group PLC (LON:RENE) will present new data for its CTX treatment showing what it says is a “significant advance” for the stem cell platform. The biotech group said the data, to be presented on Wednesday at the Annual Congress of the European Society of Gene and Cell Therapy (ESGCT), shows for the first time that CTX can be used to produce new, non-donor-specific stem cells which are then used to develop therapies for diseases that currently have an unmet medical need.
EQTEC PLC (LON:EQT) rose Wednesday after the energy company announced an extension to its memorandum of understanding (MoU) on the Billingham waste-to-energy project, which was due to lapse next month. The prolonged agreement will now last until July 2020, in the meantime, it is hoping to make progress in discussions with potential funding partners. In May, EQTEC signed a MoU to act as lead developer and technology provider for the Billingham project in County Durham, where some 200,000 metric tons of municipal waste will be processed into energy.
ADM Energy Plc (LON:ADME) shares advanced over 7% in Wednesday’s early deals as the firm relayed the news of a deal related to its 5% owned Nigerian oil asset OML 113. Panoro Energy has agreed a deal to sell its 6% interest in OML 113, host to the Aje field. The 6% stake represents the responsibility for 16% of the asset’s costs and 12% of the economic benefit. Independent oil and gas group PetroNor E&P is picking up Panoro’s stake in return for US$10mln worth of shares and a possible US$25mln deferred cash payment subject to future production results.
Midatech Pharma PLC (LON:MTPH, NASDAQ:MTP) said it has reached a binding agreement with an unnamed American institutional investor, which plans to take a US$3mln, 20% stake in the oncology and rare disease specialist. It will do so by acquiring 3mln American Depositary Shares (ADS) for US$1 each, or the equivalent of buying the UK traded stock at 3.9p. The new Midatech backer will also receive warrants to purchase a further 3mln ADS’s for US$1.25 each, or 4.9p per UK share.
Bushveld Minerals PLC (LON:BMN) has knocked down the price it will pay for vanadium group Vanchem by more than a fifth. Current market conditions were cited as the reason the cost has come down to US$53.5mln from US$68mln, with Bushveld adding that the initial conditions for the transaction have been met. Under the new terms, US$30mln will be paid in cash with the balance coming from the issue of unsecured convertible loan notes.
Ncondezi Energy Ltd (LON:NCCL) has secured finance for its first solar energy and battery storage facility for a commercial customer in Mozambique. While its primary focus remains its eponymous coal-power project, Ncondezi confirmed on Wednesday that it is branching out into renewable energy, with cash flow from an initial project expected in the second quarter of next year. The company has agreed to form a joint venture with solar project developer GridX Africa Development focused on the commercial and industrial (C&I) projects around Africa, with Ncondezi investing US$1.1mln into a GridX special purpose vehicle called GridX Africa AssetCo to fund the development of the initial project.
Speciality polymers group Itaconix PLC (LON:ITX) has launched a new version of its Velafresh personal care range used for deodorants, aerosols and haircare. Existing odour control product RevCare has also been rebranded as Velafresh to consolidate the range under one brand. John R Shaw, Itaconix’s chief executive, said: “We continually seek to adapt and enhance our technology and product offerings to meet current and emerging customer needs.”
Scancell Holdings PLC (LON:SCLP) has appointed a new independent director with 30 years’ experience in the life sciences sector. Dr Ursula Ney joins the immunotherapies specialist with immediate effect, replacing Dr Matthew Frohn, who is standing down at the end of the month.
Angling Direct PLC (LON:ANG) has appointed Steven Crowe as its chief financial officer with effect from 2 January 2020, replacing interim finance director, Ian Hunter who is leaving the fishing tackle retailer to develop his own consultancy business. The AIM-listed company noted that chartered accountant Crowe most recently served as finance director at Marvel NewCo Ltd and Validus Ltd, having held previous positions at FTSE 100 insurer Aviva PLC (LON:AV.), where he worked as director of finance for ten years managing business units with GBP3bn to GBP4bn in turnover.
Arix Bioscience PLC (LON:ARIX) has been initiated as a ‘buy’ by analysts at stockbroker Shore Capital, in a note highlighting that the growing biotech investor has “multiple shots on goal”. The venture-capital style firm, which invests in potentially disruptive life sciences businesses, plays an active role in the companies it backs and a number of those are now advancing high potential opportunities.
Metal Tiger Plc (LON:MTR) revealed it has today been issued with 6,296,990 new ordinary shares in Sandfire Resources NL (ASX:SFR), representing approximately 3.5% of Sandfire’s enlarged issued share capital, in exchange for its entire shareholding in MOD Resources Limited (MOD). Accordingly, Metal Tiger said it has no further interest in MOD but retains an uncapped 2% Net Smelter Royalty over circa 8,000 km2 in the Kalahari Copper Belt (covering the area subject to the historical Tshukudu joint venture with MOD) and a US$2m capped Net Smelter Royalty over the T3 project. The company said it intends to retain the entire interest in Sandfire shares, such that it is eligible to receive an approximate A$1.0m payment that would be due to Metal Tiger from the firm’s latest dividend
MaxCyte Inc (LON:MXCT) the global cell-based therapies and life sciences company, said it will be involved in two presentations at the 5th Annual Cell & Gene Therapy Congress (ACGTC) taking place 29-30 October in London, UK, which showcase the Company’s cell therapy technology. The group said Michael O’Dwyer, founder and CSO, ONK Therapeutics will deliver a presentation entitled ‘The rationale for the development of CAR-NK cells for the treatment of Multiple Myeloma’ on Tuesday, 29 October from 9:30am-10:00am GMT. Meanwhile, Chris Mann, Director, Field Applications Scientists Team at MaxCyte will give a presentation entitled ‘Aligning Gene Editing & Cell Line Engineering to Improve Biotherapeutic Discovery, Efficacy and Bioproduction’ on Wednesday, 30 October from 12:30pm-1:00pm GMT.
Crossword Cybersecurity PLC (LON:CCS) announced that its chief product officer, Jake Holloway will be speaking at the CIPS UK Conference 2019 on the importance of every organisation implementing a Supplier Assurance Framework. The group said Holloway’s talk will cover this in the context of a case study on Rizikon Assurance, the company’s flagship product, which helps companies to gain visibility on the risks posed by third party suppliers. The conference will be held on 31 October-1 November 2019 at the Queen Elizabeth II Centre, London.
Afarak Group PLC (LON:AFRK), the specialist alloy maker, said it “does not agree” with the decision of Finnish financial regulator FIN-FSA and the EUR1.45mln penalty payment it imposed last month. The company said it has now launched an appeal in the Helsinki administrative court.
Futura Medical PLC (LON:FUM) has appointed Grant Thornton as its auditor for the current financial year following a tender process. The previous auditor KPMG confirmed that it is not aware of any circumstances connected with its termination as auditor that it considers should be brought to the attention of the board, creditors or shareholders.
S&U PLC (LON:SUS) said it today received notice of the exercise of 10,000 options granted to Guy Thompson, a director of the company under its 2010 Long Term Incentive Plan. The group said these options were exercised at a price of 12.5p per share and all 10,000 of the ordinary shares were sold to Graham Coombs, also a director of S&U, at a price of 2,100p per share. Following these transactions, Guy Thompson’s beneficial shareholding is nil ordinary shares and he holds 40,000 ordinary share options which are vested but unexercised. Coombs beneficial shareholding is now 1,591,457 ordinary shares.