The extensive run of chunky contract wins continues at hVIVO (HVO) (formerly Open Orphan). The specialist contract research organisation announced that it has signed a £5.2m contract with a global biotechnology company headquartered in Asia Pacific to test their respiratory syncytial virus (RSV) vaccine candidate, using hVIVO’s established RSV Human Challenge Study Model. The study is expected to commence in H2 2023, with the revenue being recognised across 2023 and 2024.
Hemogenyx Pharmaceuticals (HEMO), the biopharmaceutical group, announced the successful completion of its second Process Qualification run of the end-to-end process for the manufacture of HEMO-CAR-T cells. The process was carried out in the company’s current Good Manufacturing Practice compliant clean rooms. It was followed by a battery of analytical release tests required to verify the quality of the manufactured HEMO-CAR-T cells.
HeiQ (HEIQ), a company in materials innovation and hygiene technologies, announced a trading update for its year ended 31 December 2022 (FY 2022), as well as the acquisition of Tarn-Pure Holdings Ltd. HEIQ said it had made solid progress in the first half of the financial year, reporting a 17% increase in revenues, despite the continued challenging global market conditions. The company has continued to execute on its long-term growth strategy, focussing on strengthening its innovation and differentiation capabilities.
CyanConnode (CYAN), a specialist in narrowband radio frequency mesh networks, announced that its subsidiary, CyanConnode India Pvt Ltd, has received an order from Montecarlo Limited (Montecarlo) for 983,525 Omnimesh Modules, together with Advanced Metering Infrastructure, Standards-Based Hardware, Omnimesh Head-End Software, Perpetual License, and a Support and Maintenance Contract.
Corcel (CRCL), the natural resource exploration and development company, announced that it has entered into a farm-out and joint venture agreement with Riversgold Ltd (ASX:RGL) covering its recently acquired rare earth elements project at Mt. Weld, in Laverton, Australia. Corcel said it was delighted delighted to follow directly our acquisition of Mt. Weld with a farm out of half of the position to fund 100% of the near-term development and exploration costs. This is highly accretive against its acquisition cost and further reinforces the Board’s view of the project’s immediate potential upside and overall attractiveness.
United Oil & Gas (UOG), the full-cycle oil and gas company, announced the completion of drilling operations on the ASW-1X exploration well in the Abu Sennan licence, onshore Egypt. United holds a 22% non-operating interest in the Abu Sennan licence, which is operated by Kuwait Energy Egypt. UOG said the ASW-1X well was drilled to a Total Depth of 3,640 metres, 10 days ahead of schedule and under budget. Although the well encountered net reservoir in the Abu Roash, Bahariya, and Alam El Bueib targets, the logs did not indicate the presence of hydrocarbons, and the well will be plugged and abandoned.
Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLY), the AIM-quoted USA focused base and precious metals company, reported the assay results from a further two metallurgical core holes at its Empire Open Pit Copper Project, in Custer County, Idaho, USA. 1,077 metres of a planned 1,500 m metallurgical core drilling programme were completed during 2022 and will provide samples and technical information for further metallurgical testing, geotechnical studies, and geological modelling. The company said the intercepts in the first five holes of the program meet the ore type-grade-interval length necessary for the metallurgical test work currently being undertaken.
Union Jack Oil (UJO) a UK focused onshore hydrocarbon company, announced that material landmark net revenues of $12m have been achieved from the Wressle hydrocarbon development, located within licences PEDL180 and PEDL182 in North Lincolnshire. The company said since the last production update, another impressive production performance from the Wressle-1 well has been recorded and the trend as seen throughout 2022 and the start of 2023 remains positive.
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