14 Dec 2020
Sareum Holdings* 1.57p £50m (LON:SAR)
The specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune diseases notes that a multi-centre analysis of DNA samples from patients with severe forms of Covid-19, including symptoms caused by the over-active inflammatory response, has identified TYK2 as a key causative genetic mechanism and a potential target for therapy.
This observation, which was published online as an Accelerated Article Preview by Nature on 11 December 2020 (Pairo-Castineira, E. et al. ) is consistent with the scientific rationale supporting Sareum’s recent successful UK Research & Innovation (UKRI) grant application for its proprietary TYK2/JAK1 inhibitor, SDC-1801.
Physiomics* 6.15p £6m (LON:PYC)
The oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions announced that its National Institute for Health Research (NIHR) Invention for Innovation (i4i) programme funded observational clinical study (designated “PARTNER”), has this week received both ethics committee and Health Research Authority (HRA) approval and it is now expected that the study will commence early in 2021.
The PARTNER study is being funded by the UK Department of Health & Social Care, which will provide 100% reimbursement of project costs of up to £150,000 as announced on 10 March 2020. The award project, “Further development of and evidence generation for a precision dosing tool for optimising chemotherapy dosing in advanced prostate cancer (NIHR201282)” will build on the Company’s successful work to date in developing a personalised oncology tool, that has been funded mainly through Innovate UK grants in 2017 and 2018.
The PARTNER study, originally expected to run over a 12-month period from April 2020, is, as a result of delays associated with the ongoing COVID-19 epidemic, now expected to commence in early 2021. The delay does not impact the total cost or funding required for the study. The study will generate data to further refine and validate Physiomics’ dosing tool and which could potentially be used in future regulatory submissions.
Aquis Exchange 481p £131m (LON:AQX)
The exchange services group, announced that its proposed changes to the rules and regulations of its subsidiary Aquis Stock Exchange (AQSE) Growth Market are now in force.
The AQSE Growth Market will be divided into two segments ‘Access’ and ‘Apex’, with different levels of admission criteria, in order to provide appropriate support across companies’ growth cycles. The Access market will focus on earlier stage growth companies, while Apex is the intended market for larger, more established businesses.
· New admissions to the Access market can now publish an admission document specifically tailored to small cap companies with proportionate disclosure requirements; · The Access market will accept SPACs with a minimum market cap of £700,000; · New admissions to the Apex market will be required to publish a growth prospectus, allowing private investor participation in their IPOs; and· Companies on the Apex market will be protected from short selling by third parties..
Following these rule changes Apex companies will need to have: · A minimum market capitalisation of £10 million · At least 25% shares in public hands· At least 2 market makers· A minimum 2 years’ trading history· Adopted a recognised governance code, such as the QCA Code
Rural Broadband Solutions* 4.75p £14.4m (AQSE:RBBS)
RBBS which seeks to continue to invest in the developing market for rural broadband in the United Kingdom following its acquisition of the rural broadband supplier, Secure Web Services Limited, announced its admission to AQSE’s Apex market.
“We are thrilled to be one of only 19 eligible AQSE companies to be given the opportunity to promote the Company up to the Apex market at its inception.”
Tremor International 347p £462m (LON:TRMR)
The specialist in video advertising technologies, announces that it has reached an agreement to settle the complaint brought about by Uber Technologies, Inc. filed in the Superior Court of the State of California on 11 June 2019, against Taptica Ltd. and Taptica Inc., the Company’s legacy performance marketing business.
Taptica was one of a number of performance marketing companies against which the complaint was filed, and there has not been any court finding as to wrongdoing by the Company or indeed the merits of the lawsuit. The Company has made no admission of any liability or wrongdoing. However, in order to resolve the matter in a timely manner and avoid the significant expense and burden associated with a drawn out litigation process, Tremor’s board of directors believe it is the best interest of the Company and its stakeholders to enter into a settlement agreement with Uber. Therefore, Tremor will pay a total of $1.7 million to Uber, which will result in the full dismissal of the case.
The potash development company with 97%-ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located within the Republic of Congo, advises that its local subsidiary has received correspondence from the Minister of Mines of the RoC expressing disappointment at the speed of progress on the development of the projects in the Sintoukola Basin and questioning compliance with the Company’s obligations to the Government.
The Company is progressing the development of the DX and Kola projects towards production, continues to comply with its obligations to the Government of the RoC and has kept the Minister of Mines briefed on the Company’s plans and progress.
Kore Potash continues to communicate constructively and openly with the Minister of Mines to ensure the parties remain fully engaged as Kore Potash progresses the development of its projects.
The investment company focused on next generation technology has entered into a share subscription agreement to subscribe for 6,667 ordinary shares in Low 6 Limited (Low6) at a price of £30 per share for a total consideration of £200,010. Low6 is a UK incorporated company that has developed a next generation sports betting platform. This investment forms part of a £1.5 million funding round.
Low6 provides a white-labelled mobile platform to sports teams/franchises that enable them to offer a pooled sports betting experience to users of their fan-based apps. The Company’s directors believe there is a significant market opportunity for sports betting products that are designed to enhance the excitement of watching sports whilst, at the same time, being engaging and simple to use.
Low6 already has several contracts with sports teams/franchises, including football clubs in the UK Championship and Scottish Premiership leagues. In addition, it also has partnerships with Sky Business and Yinzcam Inc.
Mosman Oil & Gas 0.17p £4.12m (LON:MSMN)
The oil exploration, development, and production company, announces that the Falcon-1 well at the Champion Project in East Texas commenced commercial production on Friday 11 December 2020.
In October 2020 Mosman announced the completion of drilling. In November flows tests were conducted, and the production facilities were installed. The well has been tied into new production facilities consisting of a separator and tanks. Oil will be sold from the tanks and gas sold via an existing pipeline. A gas Marketing Contract and a Gas Transmission contract have been signed recently. Actual production rates will be reported once stable oil and gas rates are established.
The social media and marketing group, has signed a new content licensing agreement with Veritone, the creator of the world’s first operating system for artificial intelligence, aiWARE™, and provider of digital content licensing services. The agreement will make Brave Bison’s extensive user-generated content library available to new users through Veritone’s AI-enabled licensing portal.
This is Veritone’s first partnership with an international, user-generated library, as Veritone continues to broaden the global reach of its AI-powered content solution. The addition of Brave Bison’s video assets to Veritone’s library will equip Veritone and its users with high quality, authentic and unique content to fulfil a wide range of creative needs.
Remote Monitored Systems plc, announces the following update in respect of its wholly owned subsidiary, Pharm2 Farm Limited.
The Company received an update over the weekend confirming that the Lemu production line passed Factory Acceptance Testing on Friday 11th December. A detailed written report is awaited. The Company will provide updates, including in relation to any change to the machine delivery date, if any material change arises.
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