Angle Plc (LON:AGL), the investment and management services group that works on commercialising technology and innovation, has announced strong progress with NeuroTargets, its 25% portfolio company that works on neuropathic pain treatments. NeuroTargets has previously licensed its intellectual property in relation to neuropathic pain therapeutic molecules to the University of Bristol, which has used that background IP to successfully raise further funds to advance the galanin programme. Wellcome Trust initially provided first phase funding of £540,000 and has now topped that up with a further £3.8m. Angle said it was “delighted” with the new funding, which it said moves NeuroTargets closer to a significant share in the potential royalty income that may arise on the licensing of the molecules. The news was enough to send Angle’s shares 7.2% higher to 26p.

AIM listed Regen Therapeutics (LON:RGT) has raised £70,000 in a share placing priced at 2p per share in order to fund its general working capital requirements. Last week, ReGen confirmed that a recently appointed distributor of its nutritional supplement Colostrinin in India was, in fact, USV, the Indian pharmaceutical company. For commercial reasons the company had initially requested that it remain anonymous. The move marks the first consumer launch in a major market for ReGen. India is particularly important because it is one of the significant growth drivers of the world economy and its large population is accustomed to self-medication. Thus, a consumer launch in this market has significant potential for ReGen's long term profitability.

Meanwhile, Sinclair Pharma (LON:SPH) saw its shares rise by 7.4% to 29p on news that revenues for the year to June exceeded £27m, against £30m last year, as a major restructuring of the company as a specialist dermatology and oral care business continues. Sinclair said its Italian business had enjoyed 23% like-for-like growth following a realignment there. Elsewhere, the integration of Flammazine, which was acquired with Flammacerium from Solvay last December for €17.5m, is proceeding well with revenue contribution of £4.2m for the year. The company said it was still negotiating a number of deals for Decapinol/delmopinol and was also actively pursuing opportunities in emerging market territories for multi country, multi product deals, with further announcements expected in the coming months. Sinclair said it also intended to announce its new product pipeline and strategy in the near future.

Finally,…

Unlock the rest of this article with a 14 day trial

Unlock with Email
Unlock with Google

Already have an account?
Login here