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Proactive news headlines: Iconic Labs, Panther Metals, MaxCyte, Oncimmune …

Iconic Labs PLC (LON:ICON) said it has signed a services contract with Greencastle Capital to manage..

Iconic Labs PLC (LON:ICON) said it has signed a services contract with Greencastle Capital to manage the JOE media business, which has been bought out of administration following its collapse in May. The media technology firm said under the terms of the deal it will immediately manage all operational and commercial aspects of the JOE media businesses in the UK and Ireland following regulatory clearance. In return, the company will be paid a monthly fee of £50,000 as well as 25% of all profits if certain targets are met. JOE media is the largest independent digital media company in the Republic of Ireland and has been one of the fastest-growing media companies in the UK since it launched in 2015. The brand is well known for its House of Rugby series, the most-watched rugby show in the world, and generated over £10mln in revenue in 2019.

Panther Metals PLC (LON:PALM) has told investors that its desktop review of the wholly-owned Annaburroo gold project in Australias Northern Territory has identified potential for further delineation of gold mineralisation. It noted that the project remains underexplored with more than 95% of the area remaining unsampled and untested. The central and western portions of the licence are completely untested, the company added, and moreover its review concluded that prior exploration in certain areas are not considered effective due to thick transported soil cover which has potentially masked mineralisation.

MaxCyte Inc (LON:MXCT) has signed a clinical and commercial licensing deal with a company developing a gene-silencing drug for solid tumours. Under the agreement, APEIRON Biologics will be allowed to use the AIM-listed groups Flow Electroporation technology and ExPERT platform to advance APN401, a siRNA-based cell therapy. In return, MaxCyte will receive “undisclosed development and approval milestones and sales-based payments in addition to other licensing fees”.

Proactive Research has issued a note on MaxCyte in which analyst Emma Ulker notes the new clinical and commercial licence agreement with Apeiron Biologics. She says: "The deal is the latest in a series of clinical and commercial collaborations in cell and gene therapy and is also one of the first in the siRNA field for MXCT. It highlights MXCTs expertise and the value of its Flow Electroporation technology, which is rapidly being adopted as the gold standard in non-viral cell and gene engineering and enhances the likelihood of milestone payment releases. MXCT has over 100 cell therapy licences with partners, including 11 at the clinical stage, with commercial rights with aggregate milestone payments worth over US$800mln just starting to be released."

Oncimmune Holdings PLC (LON:ONC) has noted that researchers driving innovation at the cancer diagnostic group have contributed "world-class science” to the field of rheumatoid arthritis (RA) and its early detection. Thats the opinion of Oncimmunes chief executive, Dr Adam Hill, whose ImmunoINSIGHTS team was integral to a paper published in the journal Arthritis Research & Therapy. Led by Oncimmune's Dr Petra Buddle and Dr Hans-Dieter Zucht, a study was set up to assess the diagnostic potential of IgG antibodies in early RA. It did so by assessing 411 patients enrolled in Germany. The scientists concluded that the autoantibody, cTRA2B-IgG, had the potential to improve diagnosis of early-stage rheumatoid arthritis.

Coinsilium Group Limited (LON:COIN) said it has executed an agreement with IOV Labs Limited to establish a joint venture (JV) in Singapore. The blockchain investment and advisory firm said the JV will promote and commercialise IOVs services and technologies, principally in the Asian markets, and be financed by IOV through a loan which is to be repaid from future revenues. IOV is the parent of RSK, the developers of the first smart contract platform secured by the Bitcoin network in which Coinsilium holds an interest of around 1.9mln RIF tokens. It also owns Taringa!, one of the largest Spanish language social media apps with around 30mln members.

Zoetic International PLC (LON:ZOE) has said it is expecting the completion of the divestment of the companys legacy oil and gas interest, DT Ultravert, during the next week. The CBD-focused firm also noted a change in deal terms which both advances the transaction to completion and in the longer-term offers improved value to Zoetic. It has agreed with the acquirer, Path Investments, that Zoetic will receive a higher royalty over future production – increased to 6% from 5% – and it will accept a higher allocation of share warrants, to a total of 30mln. Meanwhile, Path will cover Zoetics professional and technical costs with cash.

Red Rock Australasia Pty Ltd, a joint venture between Red Rock Resources PLC (LON:RRR) and Power Metal Resources PLC (LON:POW) has appointed a consultant to produce a National Instrument 43-101 report in respect of eleven licence applications in the Victoria Goldfields. A second consultant is also finalising a "Geological Review and Development of Exploration Strategy" on the exploration license areas. In addition, Red Rock Australasia has applied for a further small four square kilometre gold exploration license, to be named the Sardinia prospect.

Red Rock Resources PLC's (LON:RRR) chairman, Andrew Bell has commented on the proposed listing by Jupiter Mines (ASX:JMS) of its Central Yilgarn of its iron ore assets. Red Rock has a holding in Jupiter Mines valued currently at approximately A$4.35mln. The company also has a 1.3% gross revenue royalty over the Mt Ida iron ore project. The Central Yilgarn iron ore assets consists of the Mt Ida magnetite deposit, and the Mt Mason DSO haematite deposit. Both already boast established JORC resources.

Scotgold Resources Limited (LON:SGZ) has told investors its full underground development team is now back at work and blasting operations have resumed at the Cononish gold and silver mine in Scotland. The return to full operation was in line with the group's schedule announced in June, and operations are in full compliance with the coronavirus (COVID-19) safe operating procedures, the company added. At the same time, Scotgold is ramping up drilling capacity at the mine project with the addition of extra rigs, via a new agreement with Epiroc UK & Ireland Ltd.

Solo Oil PLC (LON:SOLO) told investors it has now entered into a conditional agreement to sell its stake in the Ausable Reef gas assets, in Ontario. It owns 28.56% of the assets, some 23,500 acres of petroleum leases with shut-in operations, which will be bought by Levant Exploration and Production Corp. In return, Solo will receive the equivalent of a 1% Gross Overriding Royalty over any future production revenues from the assets.

e-Therapeutics PLC (LON:ETX) has unveiled plans to raise up to £12.4mln to fund its “next stage of growth and value creation” by expanding its drug discovery platform and asset pipeline. In an announcement after the close on Tuesday, the biopharmaceutical firm said it will raise £6.3mln of the total in a placing through the issue of around 52.8mln new shares at 12p each, a 30% discount to its Tuesday closing price. Meanwhile, the company also announced a subscription to raise around £2.8mln through the issue of 23.3mln new shares at the same price and a broker option to raise another £2.5mln. The group also made a retail offer at the 12p price on the PrimaryBid platform to provide certain existing retail shareholders and other retail investors with an opportunity to participate in the fundraise. In an announcement on Wednesday morning, e-Therapeutics said the retail offer had raised £750,000 through the issue of 6.25mln shares.

Supermarket Income REIT PLC (LON SUPR), the real estate investment trust providing secure, inflation-protected, long income from grocery property in the UK, said it board has today declared an interim dividend in respect of the period from April 1, 2020, to June 30, 2020, of 1.460p per ordinary share, payable on or around August 7, 2020. The ex-dividend date will be July 16, 2020, with a record date of July 17, 2020. The dividend will be paid 0.818p as a Property Income Distribution in respect of the Company's tax-exempt property rental business and 0.642p as an ordinary UK dividend. The company has now declared four quarterly dividends totalling 5.8p per ordinary share for the financial year ended June 30, 2020, achieving its full-year dividend target.

Symphony Environmental Technologies PLC (LON:SYM) has announced the appointment of Zeus Capital Limited as its Nominated Adviser and Joint Broker with immediate effect.

Faron Pharmaceuticals Oy (LON:FARN) (NASDAQFIRSTNORTH:FARON), the clinical-stage biopharmaceutiRead More – Source




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