Source - Alliance News

The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:


Saietta Group PLC - Towcester, England-based designer, engineer and manufacturer of ’eDrive’ solutions for electric vehicles - Proposes placing and subscription of new shares to raise a minimum £5.2 million, pricing each share at 17 pence each. This is alongside a broker option to Canaccord Genuity Ltd for an additional £1.0 million. The fundraising is being conducted in two tranches: around £1.7 million raised via the firm fundraising and a minimum of £4.7 million via a conditional fundraising. The fundraising is expected to satisfy the company’s working capital requirements through to the end of March 2024, by which time the company is expecting to have announced a number of major commercial developments.


Syncona Ltd - London-based investor in healthcare companies - Notes that its portfolio company Autolus Therapeutics PLC submits biologics licence application to US Food & Drug Administration for obecabtagene autoleucel for patients with relapsed/refractory adult B-Cell acute lymphoblastic leukaemia. Says submission is based on data from the Felix study. Says Autolus has also made ‘significant’ progress in preparing its manufacturing footprint for the planned commercial launch of obe-cel, with its new 70,000 square foot commercial manufacturing facility, The Nucleus, which has an initial designed capacity of 2,000 batches per year. Pending approval from the Food & Drug Administration for the biologics licence application submission, the company expects to initiate its commercial launch of obe-cel in the US in 2024. It also expects to file a marketing authorisation application for obe-cel with the European Medicines Agency in the first half of 2024.


Molten Ventures PLC - London-based venture capital firm - Completes £55.0 million placing and subscription of 20.4 million new shares priced at 270p each, representing around 13% of all shares. The retail offer remains open and is expected to close on Tuesday at 1500 GMT.


Quadrise PLC - London-based residual oil technology company - Says all resolutions pass at annual general meeting, but notes resolution 3 only passed with 68% of shareholders voting in favour. Resolution 3 relates to re-appointing Non-Executive Director Dilip Shah, who is to retire by rotation. The company says on this: ‘The board is committed to continuing our engagement with shareholders to understand the views of those who voted against resolution 3 and will consult with them over the next few months to listen carefully to feedback and determine any next steps.’


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