Gulf starts at Sheikh Adi-2 25/05/2012
Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
Tissue Regenix loses interim £1.3m
Regenerative medical device specialist Tissue Regenix (TRX) is bullish over prospects after almost doubling first-half losses to £1.3 million.
The AM-quoted company, which uses animal or human tissue to replace damaged or worn-out parts of the human body, saw its revenue, mostly grant funding, shrink 3.5 per cent to £108,000 in the six months to July. During the first half year, York-based TRX clinched a commercialisation and intellectual property agreement with its Brazilian development partner, the Pontifical Catholic University, which will provide the company world-wide rights (outside Brazil) to clinical data on the use with human donor heart cells of its dCELL process, which creates 'biological scaffolds' by decellularising human or animal tissue.
TRX also initiated a pilot study with NHS Blood and Transplant on the use of human donor decellularised skin in the treatment of chronic wounds. The company, which ended July with £4.8 million cash, says it is 'steadily' building up clinical evidence to commercialise its dCELL Vascular Patch, which was show-cased last month to the European Society of Vascular Surgery in Athens, and has begun pre-clinical trials on its dCELL porcine repair product for torn cartelages.
Managing director Antony Odell says these and other developments have opened up new opportunities to a pipeline of innovative products, some of which have the potential to generate near-term revenues. Highlighted by Growth Company
Investor at 12p in April, TRX shares now change hands at 12.38p, valuing the company at £58.2 million and offering speculative potential for the medium term.
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Shell considers Cove 24/05/2012
Oil giant Shell is extending its offer period for Mozambique-focused Cove Energy (COV) after having its bid trumped by Thai government-owned PTT Exploration & Production.
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Kazakhstan-focused Roxi Petroleum (RXP) has declared that its NK7 well in the Galaz aea has drilled to a depth of 1,360 metres.
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Steered by sector veteran Algy Cluff, North-Sea focused cash shell Cluff Natural Resources (CNR) has joined AIM.
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Heritage happy in Iraq 18/05/2012
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