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Proactive news snapshot: Scancell, SDX Energy, Tekcapital, Genedrive, Inspiration Healthcare …

Scancell Holdings PLC (LON:SCLP) said it has begun a research programme to develop a vaccine for the..

By admin , in Cambridge , at April 24, 2020

Scancell Holdings PLC (LON:SCLP) said it has begun a research programme to develop a vaccine for the coronavirus. The project, to be led by the companys chief scientific officer Lindy Durrant, will aim to utilise the companys clinical expertise in cancer to produce a cost-effective and scalable vaccine to induce both durable T-cell responses and virus neutralising antibodies against coronavirus. Initial research is now underway, with the company anticipating a phase 1 clinical trial in the first quarter of 2021.

SDX Energy PLC (LON:SDX) has confirmed successful well testing results at the recently drilled SD-12X (Sobhi) well, at the South Disouq project in Egypt. Sobhi flowed at a maximum rate of 25mln cubic feet of gas per day (on a 54/64" choke), in an initial one hour test, followed by stable rate of 15mln cubic feet per day over three hours (on a 28/64" choke) and 10mln over four hours (on 16/64"). The company said that following a review of data it anticipates the well will produce at an optimum stabilised rate of 10-12mln cubic feet per day.

Tekcapital PLC (LON:TEK) said its portfolio firm, Lucyd is to launch its range of Bluetooth-enabled glasses on the website of US superstore chain Walmart Inc (NYSE:WMT). The investment firm said the expansion offered a “new opportunity” to reach Walmarts customer base, which is estimated to make up about 6% of the entire US eCommerce sector. In a statement, Tekcapital said Lucyd is “aggressively expanding” its online direct-to-consumer presence, adding that the firm has also listed its flagship Loud 2020 glasses range on both the eBay marketplace and the Mercari selling app.

Genedrive PLC (LON:GDR) and Inspiration Healthcare Group PLC (LON:IHC) are collaborating to distribute Genedrives antibiotic-induced hearing loss (AIHL) test in the UK & Ireland. The companies also expect to expand the scope of the contract over time to engage Inspiration Healthcare's network of more than 50 neonatal-focused sub-distributors around the world. The Genedrive MT-RNR1 AIHL test is the world's first point-of-care genetic test designed for use in a neonatal intensive care setting. The test screens newborns for a genetic mutation called mt-RNR1 that can cause lifelong and irreversible deafness to a child upon administration of certain antibiotics.

Supermarket Income REIT PLC (LON:SUPR) is looking to almost double the size of its fundraising up to a maximum of £139.8mln as it sees opportunities to add more assets to its property portfolio. After unveiling plans two weeks ago to raise £75mln, the group said its board has now decided to up the issue to at least above £100mln, having received a strong level of support from investors and in light of the possibility of acquiring additional assets.

i3 Energy PLC (LON:I3E) has told investors that it is in talks with its loan note holders to get consent to waive a condition which would require new funding to be in place by the end of this month. In a statement, the company noted that a November 2019 extension demanded that i3E Energy, by April 30, entered a reserves-based lending facility or alternative financing to take the Liberator field. However, the group said: “As the company will not be in a position to enter into such a facility by April 30, the company is in discussions with all noteholders to waive this condition and expects to provide an update to the market prior to April 30.”

Tiziana Life Sciences PLC (NASDAQ:TLSA) (LON:TILS) has carried out a little corporate housekeeping by issuing shares to retire a chunk of debt. It has wiped out £1.595mln of convertible loan notes, including accrued interest. At the same time, warrants were exercised bringing in just under £600,000 to the business. In the same announcement investors, were told AIM-listed Tizianas plans to redomicile to Bermuda, cancel its American Depositary Receipt (ADR) programme and have its Bermuda common shares listed on NASDAQ have been delayed. It cited the coronavirus lockdown and “other factors” for the hold-up.

Landore Resources Ltd (LON:LND) said it has raised gross proceeds of £260,000 in an equity issue to support the funding of exploration activities and working capital. Some 38.5mln subscription securities – comprising one share and one share warrant – are being sold to new investors and existing shareholders at a price of 0.675p each. The 1p warrants are exercisable at any time over a 24 month period.

Pembridge Resources PLC (LON:PERE) has had to revise the share subscription announced on April 20 to ensure it is compliant with prospectus regulation rules and said certain directors have also agreed to surrender their options to maximise the amount of capital that can be raised in the placing. The group had been looking to issue 19,183,179 new ordinary shares to raise £633,000 under the original subscription but that exceeds the maximum amount permitted of 20% of its current issued share capital. It now intends to issue 11,175,499 new ordinary shares resulting in a revised subscription of £368,000 at the same price of 3.3p.

Galantas Gold Corporation (LON:GAL) (CVE:GAL), the gold producer and explorer with a 100% interest in Northern Ireland's Omagh gold mine, has said that it intends to rely on the Canadian Securities Administrators blanket relief as Read More – Source

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