A quick recap of five interesting AIM companies right now with news out today.
N4 Pharma Plc (LON:N4P) has completed two studies showing that its Nuvec system, a novel delivery system for cancer treatments and vaccines, can be administered orally and successfully express the OVA m-cherry locally in the intestine epithelial cells. The studies were conducted in partnership with the University of Queensland as part of an ongoing grant investigation into the oral delivery of Nuvec loaded with DNA.
Union Jack Oil plc (LON:UJO) has reported a positive project update from Egdon Resources plc on projects in which Union Jack holds economic interests. The Wressle-PEDL180/182 project, in which Union Jack holds a 40% stake, has cumulative oil production of over 341,100 barrels with zero water-cut. Current daily production rate is around 825-850 barrels of oil per day and three microturbines have been delivered to site and installation and commissioning is ongoing. The microturbines will generate all site electricity and are expected to enable up to a 20% uplift in oil production. The Keddington-PEDL005(R) project, in which Union Jack holds a 55% stake, reprocessing of existing 3D seismic data is being finalized to inform final sub-surface location for a side-track well targeting approximately 160,000 barrels of incremental oil production. Union Jack holds 45% stake in Biscathorpe-PEDL253, where a planning hearing was held on October 11, 2022 and the decision is awaited. Union Jack holds 40% stake in North Kelsey-PEDL241, where Egdon submitted a planning appeal in August 2022.
Renold plc (LON:RNO), a supplier of industrial chains and power transmission products, announced that Renold Couplings, part of its Torque Transmission division, has been awarded a contract worth £8.7 million to supply flexible couplings for the Royal Australian Navy’s Hunter class frigates. The contract, which will be delivered over the next seven years, is for the Hi-Tec range of couplings which are used in large marine and industrial projects worldwide. The Hunter class frigates will be built by BAE Systems Australia in the Osborne Shipyard, South Australia. Production of the couplings will start in early 2023 and will be made on a new machining center installed in Renold’s Cardiff facility specifically for naval programs. The first manufacturing program is scheduled to be completed in 2030.
Venn Life Sciences, a division of hVIVO plc (LON:HVO), has signed a two-year contract worth €3.2m with a global pharmaceutical client. The contract, which starts in January 2023, involves Venn providing complex clinical pharmacokinetics consultancy and programming services to the client for multiple drug development programs across various therapeutic areas. Venn is an experienced provider of PK and programming services with a team of nearly 30 experts, and has a long history of partnership with the pharmaceutical industry. The company also offers a range of other drug development services, such as CMC, non-clinical, clinical pharmacology and development, statistics, study design and methodology, data management, medical writing and regulatory affairs. They have offices in Breda and Paris.
R&Q Insurance Holdings Ltd (LON:RQIH), a leading non-life global specialty insurance company that specializes in program management and legacy insurance, has announced an update for its program management business. In December 2022, R&Q Accredited approved partnerships with seven new programs, which are expected to begin writing business in the first quarter of 2023, with a total Gross Written Premium of approximately $130 million over the next 12-15 months. The new programs include expanding existing partnerships for Accredited America with three new programs with Falvey Insurance Group and one with Southern Star MGA, new program partnerships for Accredited America with Platinum Specialty Underwriters, LLC and Cover Whale, and new program partnership for Accredited Europe with for broker GmbH, its first MGA partner in Germany.
