20th May 2025 22:01
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
----------
Renalytix PLC - London-based diagnostics company - announces that a key milestone has been reached in the very first use of KidneyIntelX in a clinical trial, following the successful enrolment and treatment of the first patient to determine the safety and efficacy of a novel cell therapy for patients with chronic kidney disease. Renalytix and Aion Heathspan Inc, a US-based clinical-stage biotech company, are partnering in the use of KidneyIntelX as a precision medicine solution in the clinical development programme for Aion Healthspan's Rejuvxltm, including helping to monitor therapeutic efficacy. The partnered programme represents the first instance where KidneyIntelX is incorporated into a clinical trial of a new therapy in CKD. Change in KidneyIntelX risk levels is included as an outcome measure in this first-in-human clinical trial.
----------
EKF Diagnostics Holdings PLC - Cardiff-headquartered medical diagnostics company - provides an update ahead of Tuesday's annual general meeting. Says trading in the early part of the year ended December 31 is in-line with management expectations. Notes earnings before interest, taxes, depreciation and amortisation performance has held up well, against the headwinds of tariffs and unfavourable exchange rates in the US. Within Life Sciences division says sales of β-HB remain "robust" and the pipeline for contract manufacturing and fermentation opportunities has "significantly improved" with a number of high value prospects currently in discussions. Cash generation continues to be very strong even with the planned investment for growth. "We are very excited about the prospects of the business and we remain on track to deliver growth at the revenue and adjusted Ebitda levels for FY 2025 in-line with market expectations," EKF says.
----------
Geo Exploration Ltd - Australia-based oil and gas exploration company focused on Africa and the Mediterranean, formerly named Global Petroleum Ltd - says the results of an independent geoscience evaluation of Licence PEL 94 (Block 2011A), offshore Namibia greatly enhances its understanding of the potential in the eastern portion of PEL94 and has identified two new sandstone leads. The work confirms "substantial upside and a materially de‑risked resource base," it says. Says upgraded numbers lift the licence‑wide unrisked gross mean prospective resources on PEL 94 to 4.31 billion barrels, up 23 % increase over the 3.52 billion barrels announced on March 27.
----------
Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion company - announces a trading update for its wholly owned subsidiary, Engsolve. Says Engsolve secures contracts worth just over GBP1 million in the first four months of 2025. The contract wins are made up of both new and returning clients. Engsolve also has a number of contracts still in negotiation. Powerhouse plans to hire extra staff to support further growth.
----------
Valereum PLC - focused on tokenised digital markets as an exchange and marketplace operator - announces a strategic investment in DigiShares, a company that specialises in real estate tokenisation. The investment secures Valereum a strategic equity stake that aligns with Valereum's mission to advance real-world asset tokenisation. The USD1.4 million investment for a minority stake will be made in four tranches. The first tranche has been completed, and the three other tranches will be completed by July.
----------
Poolbeg Pharma PLC - London-based clinical stage biopharmaceutical company targeting diseases - raises GBP4.7 million via a "significantly oversubscribed" placing, which was upsized due to strong investor demand, and subscription, both at 2.5 pence per share. Placing raises GBP3.4 million and the subscription GBP1.3 million. Poolbeg had hoped to raise GBP4.1 million. The BookBuild offer remains open until May 22, with the potential to raise up to an additional GBP100,000. Funds will be used for the phase 2a clinical trial for POLB 001; oral GLP-1 proof-of-concept clinical trial; and cash runway extended through to 2027. Jeremy Skillington, chief executive officer, says: "It is a tremendous endorsement for the company and the potential of both our POLB 001 and Oral GLP-1 programmes that investors have supported us so robustly, despite very challenging conditions in the biopharma financing market."
----------
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Renalytix PlcEkf DiagnosticsGEO Exploration LimitedPowerhouse EnerPoolbeg Pharma