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Proactive news highlights: featuring Abzena, Acal, Midatech Pharma and more…

Published: 16:15 20 Jan 2017 GMT

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Abzena plc (AIM:ABZA) has signed an agreement with an unnamed a San Diego-based biopharmaceutical company worth up to US$300mln to license out its ThioBridge technology.

ThioBridge is an antibody drug conjugate linker, which in layman’s terms means it attaches antibodies and other proteins to drugs.

The potential value of the deal cited above consists of licence fees and milestone payments. In addition, Abzena would receive a royalty on sales of approved drugs incorporating its technology.

Elsewhere, customised electronics firm Acal Plc (LSE:ACL) has agreed to acquire  Variohm Holdings Limited for up to £13.85mln.

The company is to pay £12mln in cash upfront for Variohm, a UK based components manufacturer, which last year generated £19.4mln of revenue and reported a £1.6mln pre-tax proft.

A further £1.85mln is payable if Variohm achieves certain growth targets and conditions.

Midatech Pharma Plc (LON:MTPH, NASDAQ:MTP) said the business has the potential to generate double digit top-line growth this year as revenues increased significantly in 2016.

Total reported sales were £9mln, up from just £1.4mln in 2015.

In other news, Amedeo Resources PLC (LON:AMED) has paid US$500,000 to acquire a 2.5% stake in producing Iranian copper miner Ganjine Kani Company.

As part of the deal, Amedea also has a 5-year option to buy a further 5% of GKC – based near the city of Mashhad – for US$2mln.

And finally, Diamondcorp Plc (LON:DCP) has extended the closing date for a funding that will bring its diamond mine out of the South African equivalent of administration.

It announced last week it would raise £1mln through a placing at 4p as a first step in pulling the Lace mine out of Business Rescue.

The AIM-listed diamond miner said ‘very good progress’ was being made with the share issue but it had pushed the close date back to 20 January to help some interested parties.

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