The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Celadon Pharmaceuticals PLC - pharmaceutical company focused on the development, production and sale of breakthrough cannabis-based medicines - Ships two different medical cannabis products to US, its first international commercial supply. ‘The American business is a supplier to a number of different US government departments, and this initial sale has the potential to grow into a material source of additional revenue. The product has been supplied from the company’s UK facility,’ it adds.
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Oxford BioDynamics PLC - Oxford, England-based biotech company - Teams with Goodbody Clinic to offer nationwide access to EpiSwitch prostate screening test ‘at all its locations across the UK, supported by its network of GPs’. Oxford BioDynamics Chief Executive Officer George Thomas adds: ‘The rapid EpiSwitch PSE test can significantly enhance the accuracy of detecting prostate cancer, allowing us to provide better care and peace of mind to men throughout the whole country. We are always looking to advance our commitment to accessible, high-quality healthcare by combining the latest innovations like the PSE with access to Goodbody’s convenient clinics and home testing solutions.’
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IQ-AI Ltd - London-based medical services company - Says cancer centre located on the eastern seaboard of US subscribes to IB Nimble to optimise care for patients suffering from brain cancer. IQ-AI adds: ‘Treatment decisions require timely discussions to provide optimal personalized care. IB Nimble is integral to this effort as it facilitates real-time discussion and collaboration amongst all the multidisciplinary specialists. The mobile app will be used to improve the quality of care by, for example, improving patient-reported outcomes, avoiding unnecessary hospital admissions, and decreasing the length of hospital stays.’
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Fusion Antibodies PLC - Belfast-based contract researcher, which provides discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Enters deal for new project to develop an antibody based therapeutic with existing client, a US biotech firm. ‘This contract is separate and in addition to the $650,000 follow-on project currently being undertaken for the client,’ it adds. Says new deal is ‘centred on combatting a chronic debilitating disease in humans’ and is expected to amount to £200,000 in revenue for Fusion.
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PipeHawk PLC - Hampshire, England-based provider of technology for highways and for the automotive, rail and aerospace industries - QM Systems subsidiary awarded contract with ‘major aluminium casting provider’ to deliver leak testing systems for testing of aluminium diecast components. Deal is worth £1.2 million and will take nine months to deliver. Chair Gordon Watt says: ‘This contract award represents a brand-new client for QM, however a subsidiary of the customer has been a long-standing partner for QM for many years. Over these years QM have delivered a significant number of similar systems to the customer’s subsidiary and continues to do so. We are excited to welcome this new customer to QM’s continually expanding partner base.’
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Crystal Amber Fund Ltd - invests in small and mid-cap UK equities - Will continue share buyback programme for the period to June 30. Since December 8, £7.5 million has been utilised in the programme. It now plans to continue buybacks up to £2.5 million.
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ADM Energy PLC - natural resources investing company - Updates on recent activity of investee JKT Reclamation. ADM had acquired an interest in JKT parent SW Oklahoma Reclamation LLC in April. ADM notes a mixing tank and two new fluid pumps have been leased for the reclamation site. ‘This new equipment will assist in increasing the processing capacity of the JKT’s reclamation facility in Wilson, Oklahoma and is scheduled to be delivered and installed in early June 2024,’ ADM says. ‘Following delivery and installation of the new equipment, JKT is targeting to expand production to 3,500 to 4,000 barrels of oil per month. JKT has also entered into a short-term working capital facility that allows for short-term advances against oil sold, payable within 90 days, at a cost of 1.75% per month on the quantum of funds borrowed. The facility will provide JKT the short term funds required to expedite its growth.’
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Pharos Energy PLC - oil and gas exploration and production company with assets in south east Asia and the Middle East - Says entered 2024 on ‘strong operational and financial position’, and output in first four months of year in line with expectations. Chief Executive Officer Jann Brown adds: ‘In Egypt, we are preparing to drill in both El Fayum and NBS later this year, while in Vietnam, preparations are well advanced for our 2H two-well drilling programme on TGT. I am pleased with the recent progress made on the licence extension discussions on both TGT and CNV, while in Egypt we are pursuing a consolidation of our two concessions into one to deliver a number of benefits. On Blocks 125 & 126 in Vietnam, we are progressing options to secure a drilling slot for Prospect A, the key catalyst for parties interested in farming in to these licences.’
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Afentra PLC - upstream oil and gas company focused on acquiring mature production and development assets in Africa - Seals acquisition of 12% non-operating interest in Block 3/05 and a 16% non-operating interest in Block 3/05A offshore Angola. Pays $28.4 million cash.
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