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Proactive news snapshot: Advanced Oncotherapy, ReNeuron, Ormonde Mining, OptiBiotix Health …

A glance at some of the day's highlights from the Proactive Investors newswire

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Your daily round-up from the world of Proactive

Advanced Oncotherapy PLC (LON:AVO) saw its shares jump higher on Monday as the developer of next-generation proton therapy systems for cancer treatment announced a deal with the Mediterranean Hospital of Limassol in Cyprus. In a statement, the AIM-listed firm said the hospital has agreed to purchase a LIGHT system for €50mln.

ReNeuron Group PLC (LON:RENE), a global leader in the development of cell-based therapeutics, has announced the publication in a peer-reviewed journal of positive clinical data from the PISCES II Phase 2a clinical trial of its CTX stem cell therapy candidate for disability resulting from stroke. In a statement, the AIM-listed firm said data from the study were originally presented by Professor Keith Muir at the American Heart Association International Stroke Conference 2018 in January 2018, having been announced by the company in October 2017.

Ormonde Mining plc (LON:ORM) has completed the disposal of its 30% interest in the Barruecopardo tungsten mine and has received the €6mln in cash due as consideration. Following the transaction, Michael Donoghue and John Carroll have retired from the board and the company. Jonathan Henry, previously a non-executive director, is appointed executive chairman, while Tim Livesy and Richard Brown are appointed non-executive directors.

OptiBiotix Health PLC (LON:OPTI) has signed a distributor agreement with Advanced NutriSolutions Inc./Select Ingredient covering the United States and Canada. Under the terms of the agreement, Advanced NutriSolutions Inc./Select Ingredient will supply OptiBiotix's cholesterol and blood pressure-reducing probiotic strain Lactobacillus plantarum LPLDL, under an exclusive licence, to customers in the United States and Canada for inclusion into dietary supplements formulation.

Quadrise Fuels International PLC (LON:QFI) has updated on its business activities ahead of the publication of its interim results at the end of March. The specialist fuel firm said following its annual general meeting in November, it had made progress in a number of areas to “increase the breadth and depth of its business development programme”.

Amur Minerals Corporation (LON:AMC) has revealed the results of metallurgical tests conducted on the Kun-Manie nickel sulphide project by consultant Gipronickel with a view to establishing the feasibility of generating a saleable copper concentrate. Kun-Manie is located in the Amur Oblast in the far east of Russia.

ANGLE PLC (LON:AGL) said an independent study of its Parsortix system has demonstrated key advantages of the company's flagship liquid biopsy technology. The University Medical Centre Hamburg-Eppendorf has published results of work undertaken to assess the analytical and clinical performance of Parsortix in multiple metastatic (i.e. spreading) cancer types with the main emphasis on metastatic breast cancer.

Redx Pharma PLC (LON:REDX) has extended discussions over a possible takeover offer to 28 February from 14 February. In an announcement on Friday afternoon, the drug developer said the ‘put up or shut up’ deadline for a bid by a consortium of investors has been extended for the parties to conclude ongoing discussions.

ImmuPharma PLC’s (LON:IMM) portfolio firm, oncology specialist Incanthera has announced its intention to list on the NEX exchange in London before the end of February. The company, which owns a 14% stake in Incanthera, will see its stake lowered to 11.9% following admission when the company lists, which is expected around 28 February.

Kavango Resources PLC (LON:KAV) has signed a joint venture agreement in respect of two prospecting licences situated in the Botswana section of the Kalahari copper belt. The first lies 30 kilometres north of MOD Resources' T3 mine development and is completely surrounded by MOD, Metal Tiger, and Sandfire licences. The second is close to the Namibian border, south of the Trans-Kalahari Highway and adjacent to a block of licences held by Kopore Metals Ltd.

Frontier IP Group PLC’s (LON:FIPP) portfolio firm, Cambridge Raman Imaging Limited (CRIL), has been awarded €140,000 (£116,380) in EU funding to accelerate development of its graphene-enabled scanning microscope. CRIL, which was spun out from the University of Cambridge and Italian university Politecnico di Milano in 2018, is developing a microscope which uses graphene to modulate ultra-short pulses of light to diagnose and track cancer tumours.

Bacanora Lithium PLC (LON:BCN) has reached agreement with the administrators of Solarworld AG to amend a joint venture agreement which relates to the Zinnwald lithium project in southeast Germany. Bacanora acquired an initial 50% interest in the project in February 2017, as well as an option to acquire the outstanding 50% that it does not own, whilst Solarworld had the right, but not obligation, to buy back Bacanora's shareholding for €1. Bacanora and Solarworld have now agreed to cancel this arrangement. As a result Bacanora will now own 50% of the project and Solarworld, which is currently in administration, will hold the other 50%.

Silence Therapeutics PLC (LON:SLN) has launched a scientific advisory board (SAB) to provide governance for its research and development (R&D) activities. The biopharma firm, which specialises in treatments for serious genetic disorders, said the SAB will be led by Sir Gordon Duff, the principal of St. Hilda's College at the University of Oxford and the former chair of the UK's Committee on Safety of Medicines.

TomCo Energy plc (LON:TOM), the unconventional oil exploration, development and technology group focused on using innovative technology to unlock unconventional hydrocarbon resources, has announced the appointment of Stephen West as a non-executive director with immediate effect. The firm noted that West has over 26 years of financial and corporate experience gained in public practice, oil and gas, mining and investment banking. It pointed out he is co-founder and current non-executive chairman of Zeta Petroleum PLC, and is also currently executive director and chief financial officer of PetroNor E&P Limited, although he has resigned from that position, effective from the end of February 2020, having been instrumental in the successful merger of the Oslo-listed firm with African Petroleum Corporation Limited in August 2019.

Benchmark Holdings PLC (LON:BMK) said it has conditionally raised total gross proceeds of £6.6mln through the Open Offer announced on 30 January 2020, representing the full amount proposed. Accordingly, the company has conditionally raised total gross proceeds of £43.0mln by way of the placing, which was also announced on 30 January, and the Open Offer, both of which were priced at 40p per ordinary share. Peter George, Benchmark’s executive chairman commented: "The proceeds of the Open Offer and Placing will in part be used to scale up CleanTreat as we prepare to launch BMK08, our novel medicinal treatment to combat sea lice, one of the main biological challenges in salmon farming. We are excited about the opportunity we now have to deliver Benchmark's enormous potential."

Avation PLC (LON:AVAP) said it has joined the Aviation Working Group (AWG), a not-for-profit legal entity comprised of major aviation manufacturers, leasing companies and financial institutions that contribute to the development of policies, laws and regulations that facilitate advanced international aviation financing and leasing. The company’s executive chairman, Jeff Chatfield commented: "The Aviation Working Group manages important projects and ongoing initiatives including the Global Aircraft Trading System (GATS), a system designed to modernise aircraft equipment trading and financing. AWG has also established a working group to assess, provide information, and potentially take action on Environmental Social and Governance in the context of aviation financing and leasing. These initiatives are relevant to Avation's business and operations."

Tally Ltd, which offers customers the chance to buy currency backed by physical gold, said its third live shareholder Q&A with the two co-founders, Cameron Parry and Ralph Hazell on the online Tally Community, will take place on Thursday 20th February from 7pm-8pm. This exclusive shareholder session will be after the ‘public’ Q&A on the product from 6pm which anyone can join, however, shareholder and company-related matters will only be responded to in the second session.

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