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Proactive news snapshot: ReNeuron, AFC Energy, Collagen Solutions, AppScatter …

A glance at some of the day's highlights from the Proactive Investors newswire
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ReNeuron Group PLC (LON:RENE) has inked a deal three-year worth up to £80mln in success-based payments with an arm of one of China leading drug companies. Fosun Pharma is licensing the rights to the company’s CTX and hRPC cell therapy programmes in the People’s Republic for an initial £6mln.

Shares in alkaline fuel cell power technology company AFC Energy PLC (LON:AFC) rose after the company revealed it had improved its technology. The new high-power density alkaline fuel cell technology has the potential to be used in applications where the space and weight of power generation are important considerations and will sit alongside and complement AFC's existing large-scale stationary fuel cell system.

Collagen Solutions PLC (LON:COS) expects full-year revenue to rise more than market forecasts, driven by deals to develop collagen products on behalf of third parties. The company, which uses collagen and/ or tissue to make everything from heart valves to bone grafts through to wound dressings, estimates revenue will rise 18% to £4.15mln for the year ended March 31, up from £3.50mln last year, as growth seen in the first half continued.

AppScatter Group PLC (LON:APPS) is planning to raise funds to finance the preparation work for the proposed acquisition of US technology company, Airpush.

EQTEC Plc (LON:EQT) shares powered higher on Tuesday after it told investors it has seen a “significant increase” in the level of international interest in its waste-to-gas technology. EQTEC Gasifier Technology (EGT) converts waste such as tyres, plastics and wood chippings into a synthetic fuel called syngas.

Cadogan Petroleum PLC (LON:CAD) has said initial drilling results of the Blazh-10 well on the Monastyretska license, in the west of Ukraine are “encouraging”, although costs were higher than budgeted.

OptiBiotix Health PLC (LON:OPTI) has signed a three-year agreement for the distribution of its SlimBiome weight loss product in Bulgaria.

Feedback PLC (LON:FDBK) has appointed the chief executive (CEO) of its operating subsidiary, Feedback Medical, as its own CEO Avacta Group PLC (LON:AVCT) remains on track to begin a Phase I clinical trial of its first Affimer therapeutic candidate next year. Affimers are small, engineered proteins that are capable of binding specific molecular targets, in a similar way to antibodies. Big Pic in November. with immediate effect.

Biotech investor Arix Bioscience PLC (LON:ARIX) has confirmed that its investee company, Autolus Therapeutics PLC (NASDAQ:AUTL), has announced the launch of a proposed public offering in the United States.

Rosslyn Data Technologies PLC (LON:RDT) has inked a refinancing deal which will cover the debt it assumed as part of its acquisition of Integritie (UK) Limited in April 2017 and provide it some working capital.

Cabot Energy PLC (LON:CAB) has decided to relinquish PEL 629 onshore exploration licence in the Otway Basin, onshore Australia, where work has been suspended since June 2014. The company, in a statement, noted that it had received confirmation from the authorities that it is approved to vary current commitments for a nominal fee.

Active Energy Group PLC (LON:AEG) struck a resolute tone as it said that the commerciality of its Polish ‘SuperFuel’ venture won’t be dented by a denied application for European Union funding.

Savannah Resources PLC (LON:SAV) has boosted resources at the Mino do Barroso lithium project in Portugal by 17% to 23.5mln tonnes. Within that, the measured and indicated resource now totals 13.3mln tonnes grading 1% lithium oxide.

i3 Energy PLC (LON:I3E) told investors it has secured a drill rig for its summer drill programme, which sets the Liberator field development in motion. The company, in a statement, said it had hired the Borgland Dolphin semi-submersible drilling rig for the programme, with drilling due to start between 15 July and 15 August.

Photonstar LED Group PLC (LON:PSL) is having to rethink its plans after shareholders vetoed its latest fund raise. The company had intended to raise £200,000 but shareholders did not grant a pre-emption waiver.

Bluebird Merchant Ventures Ltd (LON:BMV) has received a positive response to its application for a permit to develop the Gubong gold mine in South Korea.

Bushveld Minerals Limited (LON:BMN) has been initiated with a ‘buy’ rating and a 45p price target by analysts at Peel Hunt as the broker touted “solid near-term growth plans” as well as further upside to the shares.

IronRidge Resources Limited (LON:IRR) has announced the appointment of Kieran Daly as a non-executive director of the company with immediate effect, replacing Bastiaan Van Aswegen who is retiring. The group noted that Daly formally joins the board as part of the company's strategic alliance with mining company Assore Limited. which has a 31.27% shareholding in IronRidge.

Providence Resources PLC (LON:PVR) has provided a technical update regarding its ongoing geothermal resource assessment of the Dunquin North Lower Cretaceous carbonate build-up. Dunquin North is situated in Frontier Exploration Licence FEL3/04 in the southern Porcupine Basin, offshore Ireland. The group said its technical director, Dr. John O’Sullivan, will present a paper on the company’s latest assessment of Dunquin North’s geothermal resource potential at the American Association of Petroleum Geologist’s (AAPG) 3rd Hydrocarbon Geothermal Crossover Workshop in Geneva this afternoon, a copy of which will available on the company’s website.


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