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The Markets
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Pharma & Biotech

Proactive news summary: Windar Photonics has the wind behind it

Companies covered: ANGLE, Berkeley Energia, Best of the Best, Deltex, Forbidden Technologies, Frontier IP, Iofina, Ironridge, ITM Power, LGO Energy, Netscientific, Redx, ServicePower, Strategic MineralsPLC

Windar Photonics PLC (LON:WPHO) was one of the day's top performers after it secured a repeat order for its WindEye LiDAR wind sensors from a large wind farm owner and operator in the US.

The five new units are expected to be installed on Suzlon S88 2.1 MW wind turbines and will be integrated into the turbines’ control systems to help increase efficiencies.

In other contract news, shares in software firm ServicePower PLC (LON:SVR) shot up as it won a $1mln five year contract to supply its technology to a global insurance firm.

The firm's software ServicePower Unity will be used to manage the group's Canadian insurance operations.

Similarly, ITM Power plc (LON:ITM) has inked a deal with car giant Hyundai Motor UK to supply it with hydrogen fuel.

The contract, at a price of £10 per kg, is for fuel dispensed across ITM's hydrogen refuelling network to refuel Hyundai's iX35 fuel cell fleet.

Forbidden Technologies plc (LON:FBT) said its Forscene video editing platform has been chosen for use on Royal Holloway University of London's ADAPT project.

ADAPT is a European Research Council-funded project researching the history of television production technology.

Forscene, Forbidden's flagship cloud-based platform, will be used as the remote editing suite for the project.

Sticking with contract wins, Deltex Medical Group plc (LON:DEMG) has won its most significant order from a NHS hospital for Oesophageal Doppler Monitoring equipment for over two years.

The hospital in the south-east of England has bought six CardioQ-ODM+ monitors and oesophageal probes in a purchase worth £30,000.

Its doctors demanded a replacement to equipment bought in 2013 through a NHS national programme.

Elsewhere on the medical scene, ANGLE PLC (LON:AGL, OTCQX:ANPCY) has welcomed new research that potentially supports the use of the company’s breakthrough cancer detection system as an alternative to biopsies in men with suspected prostate cancer.

The team at the Bart's Cancer Institute at Queen Mary University will present their full findings at the National Cancer Research Institute next week.

What they found was ANGLE’s Parsortix device was able to capture a very specific subset of circulating tumour cells from prostate cancer patient blood samples.

NetScientific plc (LON:NSCI) shares nudged higher as it revealed portfolio company Vortex Biosciences had moved closer to selling its circulating tumour cell (CTC) capture system in the USA and Europe.

Vortex has registered a Class I medical device with the US FDA (Food and Drug Administration) and established a CE Mark for the proprietary technology.

Redx Pharma Plc (LON:REDX) is to stoke up interest in medical circles next month in a drug candidate that could prove effective in treating leukaemia.

The drug development company will present the pre-clinical profile of its reversible Bruton's tyrosine kinase (BTK) inhibitor at the American Society of Hematology annual meeting on 5 December 2016 in San Diego, California.

In the resources sector, Berkeley Energia Ltd (LON:BKY) is to raise up to £24.1mln as it looks to accelerate the development of its Salamanca uranium project in Spain.

The miner will ask existing and other institutional investors to stump up between £16.1mln and £24.1mln through a placing of shares at 45p – a similar level to yesterday’s close.

The cash will be used to fund the construction of the crushing circuit at the centralised processing plant, as well as other infrastructure items, Berkeley said.

Strategic Minerals PLC (LON:SML) has brought on board an experienced consultant to help it progress its Cornish tungsten mining ambitions.

It has struck a deal with mining expert and Cornish resident Jeffrey Harrison to be community advisor for the Redmoor tin and tungsten project in the west of the UK.

Tropical Storm Matthew disrupted LGO Energy’s (LON:LGO) production in Trinidad in the past quarter, but facilities are now back on line again said chief executive Neil Ritson.

The storm caused widespread electrical failures across the island but allowing for this underlying production was flat, he said, as workovers at the Goudron field compensated for natural declines.

Production has risen since October, Ritson added.

IronRidge Resources Limited (LON:IRR) has intersected significant gold and copper grades at its May Queen prospect in Queensland, Australia.

The junior drilled eight shallow holes and recorded multiple gold and copper intersections.

Malcolm Lewin, the interim chief financial officer (CFO) of Iofina plc (LON:IOF), has got the gig full-time.

Alusid Limited (Alusid), one of the portfolio companies of Frontier IP (LON:FIPP), has won the 2016 IChemE Global Award 2016 for Best Business Start-Up.

Talking of things "best", shares in Best of the Best plc (LON:BOTB) revved higher on Friday after the firm’s bullish trading update gave investors a flavour of what to expect when it publishes its interim results early next year.

The company hailed the “strong trading” for the six months to October, adding that it now expects profit before tax for the period to be ahead of its previous expectations.

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