It was another day, and another RNS for OKYO Pharma (OKYO), a biotechnology company, as it announced that the patent entitled “Methods of Lowering Blink Reflex for the Treatment of Dry Eye Disease” has been issued by the United States Patent and Trademark Office, as U.S.
By Zak Mir
Patent No. 11,197,906. This patent contains key claims covering OK-101 to treat dry eye disease. OK-101 is OKYO’s lead pre-clinical compound and is a novel long-acting GPCR-based anti-inflammatory drug candidate. The work recited in this patent lays out the potential of OK-101, a lipidated chemerin analogue. The company said it has made significant progress with its pre-IND work on OK-101 and is planning to file the IND to treat DED in Q3 2022, followed by the commencement of a Phase 2 trial in DED patients in Q4 2022.
Bradda Head Lithium (BHL), the North America-focused lithium development group, announced the start of exploration drilling at the company’s Wikieup project in Arizona. The company said that with exploration already yielding positive results at its other assets in Arizona it is confident that this drilling programme will support the promising initial results from its 2021 geophysics programme and demonstrate the resource size potential at Wikieup.
Mkango Resources (MKA) announced the commencement of the final stage of hydrometallurgy pilot plant test work for the Songwe Hill Rare Earths project in Malawi. Design and engineering studies by lead engineer SENET are nearing completion, with the Songwe Feasibility Study targeted for the first quarter of next year. The company said rising rare earth prices and concerns over security of supply provide a favourable market backdrop, with accelerating demand geared to growth in green energy and technology applications.
Caerus Mineral Resources (CMRS), the exploration and resource development company, provided shareholders with an update on exploration and resource development work in Cyprus, including drill and trench analyses for copper and gold. The company said it continues to make significant progress with its Joint Ventures and evaluation and resource development programmes. Caerus said its policy of regular communication with Shareholders has been undermined by the painfully slow turnaround from the independent assay laboratory, but remains hopeful that the backlog will be cleared soon.
Perhaps as some psychic Twitterati anticipated yesterday, there was an update from Kodal Minerals (KOD), the mineral exploration and development company. It updated on recent activities at the Fatou Gold project drilling for gold mineralisation and the ongoing activity at the Bougouni Lithium project, both located in southern Mali. The company said it is now working on multiple projects across southern Mali and Northern Cote d’Ivoire, including working towards construction at its fully permitted Bougouni Lithium project and proving up what it believes will be a very significant global resource inventory across its gold assets.
Getech (GTC). the NetZero technology provider and data-led energy asset developer, said that its wholly owned subsidiary, H2 Green Limited, has signed a legally binding agreement with SGN Commercial Services to develop a major green hydrogen production, storage and distribution facility on SGN’s former gas holder site in Inverness. In addition, Getech has agreed with SGN to progress three further UK sites to an advanced stage of evaluation and the parties are discussing the addition of several, recently identified sites to the joint review list.
As it is Christmas, and a time of goodwill to all, it would appear that companies are keen to ensure they are fully funded enough to get through the festive season. Premier African Minerals Limited (PREM), announced a placing of £800,000 before expenses at an issue price of 0.16p for the ongoing DFS at Premier’s Zulu Lithium and Tantalum Project.
Corcel (CRCL), the natural resource exploration and development company, announced a partial sale of its corporate debt to an entity controlled by the Chairman and a restructuring of the remaining balance. The company said the restructuring gives it the runway required to continue to execute its dual track strategy of developing battery metal assets alongside transitional energy storage and production projects. With on-going progress at its nickel-cobalt assets in PNG and gas-peaking assets here in the UK, it enters the year-end period in a strengthened position.
Nuformix (NFX), a pharmaceutical development company, announced a conditional subscription to raise £1.65 million at a price of 1.5p with Lanstead Capital Investors L.P. The company said the investment will enable it to invest in the formal development of NXP002 to be Phase I ready within the 20 month period and to continue the strengthening of the IP around NXP004. Both products address large market opportunities. Importantly, this enables NFX to hire experienced business development expertise to build on licensing opportunities for these products to pharmaceutical companies.
Omega (ODX), the specialist medical diagnostics company has been notified by its technology partner Mologic Ltd that data from analysis on clinical samples shows that the Mologic Covios® Ag lateral flow test, performs with the same high accuracy on the Omicron variant as it does with existing known variants. This is the same test that is manufactured and sold for professional use by Omega as the VISITECT® COVID-19 antigen test.
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