This week: SpiriTel is expanding, Transense is on message and Seeing Machines soars.
Angel Biotechnology Holdings (ABH 0.28p / £4.17m)*
We made reference to several announcements in last week’s Small Cap Wrap that biopharmaceutical contract manufacturer made and last week, it also announced the signing of a contract with Progenteq Limited, a Fusion IP spin-out company from Cardiff University. Progenteq is developing a novel cell therapy for the treatment of acute knee injuries. Under the contract, Angel will provide consultancy and development services for Progenteq's novel cartilage replacement therapy. We also note that Angel is closely linked to ReNeuron, one of its clients, who last week also had good news that it had received final regulatory approval to commence a landmark stroke clinical trial in the UK, which given that Angel manufactures product for this trial, is good news all round.
Angel Biotechnology Holdings is a biomanufacturing company offering process development services, GMP manufacturing for advanced biologics and regulatory support including preparation of dossiers for regulatory submissions. Angel specializes in the provision of advanced biologics including autologous and allogeneic cell therapy products including stem cells and cellular vaccines, specific purified natural and recombinant proteins and bacteriophage. We understand that this is the most licensed facility in the UK, and that the Company has a good spread of clients, with no particular one that dominates, amongst them ReNeuron, the UK’s leader in stem cell research and Materia Medica, Russia’s 6th largest Pharma Company, with whom it has contracted work of £4m in manufacturing over three separate contracts and has recently signed an umbrella frame agreement and the first contract under that in non-manufacturing for £110,000. We expect further announcements under this agreement and with other clients now that Angel has the capacity to take on the work. Expect several more pieces of news before Easter about contract wins.
Clean Air Power (CAP 23.5p / £13.25m)
Clean Air Power, which develops and commercialises Dual-Fuel technologies for heavy vehicles, has entered into a concept development agreement program for the North American market with Navistar, Inc, an American producer of diesel engines, brand commercial and military trucks, buses, brand RVs, motor homes and step vans.
The intention is to use Clean Air Power’s unique technology to develop an innovative natural gas/diesel engine able to meet the North American customers weight and performance requirements…
