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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NetScientific PLC - life sciences and sustainability technology investment firm - Announces its portfolio company Glycotest Inc has launched a third party fundraising programme to raise up to $1 million of which $0.25 million has already been received. NetScientific has a 62% stake in Glycotest. Says Glycotest is close to completing its HCC Panel clinical trial with 20 leading medical sites across the US and Israel.
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Destiny Pharma PLC - Brighton, England-based clinical-stage biotechnology firm - Announces ‘very encouraging’ results from its collaboration with SporeGen Ltd, a UK biotechnology company working exclusively on Bacillus and its applications. Says the collaboration has been partly funded by UK Research and Innovation to co-develop SporeGen’s SPOR-COV product as a preventive treatment for Covid-19, influenza and potentially other similar respiratory viral infections. Reports the study results support the original hypothesis that SPOR-COV nasal spray can rapidly stimulate an immune response that primes the human immune system against influenza and coronavirus‑type viral threats such as Covid-19. Further, extends existing collaboration with HURO, an manufacturer of bacterial product formulations based in Vietnam and part of the PAN Group.
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Macfarlane Group PLC - Glasgow-based supplier of protective packaging materials - Announces the acquisition of A&G Holdings Ltd, owner of Gottlieb Packaging Materials Ltd for up to £3.6 million. Expects acquisition to enhance earnings and says deal further progresses Macfarlane’s strategy of building its protective packaging business through a combination of organic and acquisitive growth. Notes the deal is being financed from existing bank facilities.
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Dunedin Enterprise Investment Trust PLC - Edinburgh, Scotland-based investment fund, specialising in private equity finance - Reports net asset value was 627.0 pence per share as at March 31, little changed from 627.1p at December 31.
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Sky Ltd - Isleworth, Middlesex-based media organisation subsidiary of Comcast Corp - Commences a cash tender offer to purchase its outstanding $1.25 billion 3.750% senior unsecured notes due 2024. Says tender offer will expire on May 5.
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Powerhouse Energy Group PLC - Bingley, England-based hydrogen-from-waste-plastic producer - Assumes full ownership and control of the Protos plastics to hydrogen project at the Protos site near Chester after buying Protos Plastics to Hydrogen No 1 Ltd from Peel NRE Ltd for a nominal payment of £1. Adds the acquisition brings to an end previous discussions regarding PHE taking a 50% shareholding in Protos.
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