TomCo Energy PLC (LON:TOM) said it has now terminated the placing it announced earlier this week and confirmed changes to its joint venture agreement with Valkor. The Greenfield Energy joint venture has still been established, with TomCo taking a 50% stake, and Valkor has agreed that it will assign to Greenfield the benefit of a licence to use MSAR Technology developed by Quadrise International Fuels PLC (LON:QFI). TomCo will no longer be required to provide funding to Greenfield of up to US$1.5mln, as was previously envisaged, until such time as TomCo has such funds available.
Tiziana Life Sciences PLC (LON:TILS) (NASDAQ:TLSA) has received a US patent for a breakthrough oral formulation of a monoclonal antibody that has been hailed as offering a “transformational avenue for immunotherapies”. The patent protects the “lyophilised and stabilised free-flowing powder” of Foralumab contained in enteric-coated capsules for oral treatment of disease. This first-in-class formulation allows Tiziana to work on drugs for Crohn’s, multiple sclerosis and Alzheimer’s disease that can be administered by mouth rather than requiring a painful intravenous line or injection. In a separate statement released after the market close on Thursday, Tiziana Life Sciences also announced that Gregor MacRae is standing down as a director of the company with immediate effect. Gabriele Cerrone, chairman of Tiziana commented: “I thank Gregor for his contribution to the Board and the Company and wish him well in his other interests. We are currently in the process of recruiting a new, seasoned non-executive director with extensive NASDAQ audit committee experience and hope to make a formal announcement shortly”.
Catenae Innovation PLC (LON:CTEA) said its partner Newcastle Premier Health has successfully completed a proof-of-concept pilot trial of the Cov-ID app. Cov-ID is GDPR compliant identity documentation exchange system to record an individual’s coronavirus (COVID-19) test status through a mobile application. The project is a joint initiative by a consortium of companies led by the Z/Yen Group, and it is expected the fully validated product will be rolled out to businesses.
Inspiration Healthcare Group PLC (LON:IHC) said it has agreed to acquire S.L.E. Limited, a designer and manufacturer of ventilators and capital equipment used in neonatal intensive care, for a consideration of £18mln. The medical technology firm said it will complete the acquisition using £16.2mln in cash while the remaining £1.8mln will be paid in shares. Inspiration said the acquisition is expected to be earnings enhancing in the short to medium term with “significant commercial synergies”. To help fund the purchase, the company said it has raised £16.5mln through a placing and subscription of around 25.4mln new shares at a price of 65p each, a 1.5% discount to its closing price on Thursday, to new and existing investors.
Braveheart Investment Group (LON:BRH) said its…
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