The following is a round-up of updates by London-listed companies, issued Friday and not separately reported by Alliance News:
----------
abrdn Latin American Income Fund Ltd - investment company focused on Latin America - Fully repays and cancels £6 million multi-currency revolving facility agreement with Nova Bank of Scotia’s London branch, of which £5.5 million was drawn down.
----------
Arecor Therapeutics PLC - West Sussex, England-based commercial biotechnology company - Chair Andrew Richards says Arecor had a successful 2022. The company in May had reported an annual pretax loss of £10.5 million for 2022, widened from £6.9 million in 2021. Richards says: ‘New partnerships with leading pharmaceutical companies strengthened our reputation as an innovator that pharma and biopharma can work with and clearly demonstrate the strength and relevance of our platform and intellectual property. These partnerships provide a route to multiple potential ongoing revenue streams through licenses and through pre-license technology partnerships. Our existing partnerships continue to progress towards commercialisation and we see significant further opportunities to apply our technology in ready-to-use and ready-to-administer hospital care medicines and to partner programmes across a range of indications and formulations.’
----------
Faron Pharmaceuticals Ltd - Turku, Finland-based biopharmaceutical drug discovery and development company - For anti-tumour activity focused bexmarilimab, says bexmab study continues to show data that are an indication of the therapeutic potential to change the treatment paradigm for patients with haematological malignancies. ‘The proposed mode of action of bexmarilimab in acute myeloid leukemia/myelodysplastic syndrome is now supported by the biomarker data, which suggests durable Clever-1 target engagement in the bone marrow tumour microenvironment with increases observed in key cell types limiting cancer growth and spread,’ it says.
----------
Gunsynd PLC - London-based company investing in companies and projects within the natural resources, life sciences and beverage sectors - Positively notes update by investee Aberdeen Minerals Ltd, in which it subscribed for 2.0 million shares for £150,000 in January. Aberdeen finds 0.73% nickel at Arthrath project in Aberdeenshire, as well as 0.7% copper and 0.07% cobalt.
----------
Invinity Energy Systems PLC - London-based utility-grade energy storage manufacturer that produces batteries for the large-scale requirements of business networks - Announces first deployment of prototype of its product at a site in British Columbia, Canada early next year. It is funded by a C$500,000 award from the B.C. Centre for Innovation & Clean Energy. ‘The award will support the manufacture and deployment of a 1.2 MWh prototype of Invinity’s next-generation vanadium flow battery, code-named ’Mistral’,’ company says. Expects it to be operational in the first half of 2024.
----------
Medica Group PLC - Hastings, England-based provider of services such as x-ray and MRI scan analysis to hospitals - A majority of shareholders at the court meeting and general meeting vote for the £269 million takeover by Moonlight Bidco, a wholly owned vehicle of IK Investment. Sanction hearing for takeover is scheduled for July 4, with Medica expecting it to become effective in the first week of the third quarter of 2023.
----------
Regional REIT Ltd - London-based real estate investment trust - Hails a survey on occupiers across 106 of the buildings in firm’s office portfolio, based on an 82% response rate. Says employees have returned to the office for an average of 4.2 days a week, with 99% of tenants having returned to the office. Stephen Inglis, chief executive officer of Regional REIT’s asset manager London & Scottish Property Investment Management, says: ‘This is a clear indication of how far the situation has improved in a short space of time. Further, we continue to witness a steadily improving environment with more people back in the office.’
----------
Copyright 2023 Alliance News Ltd. All Rights Reserved.
