Oncimmune has been contracted by a global pharmaceutical leader to study autoantibody profiling of Chronic Inflammatory Demyelinating Polyradiculoneuropathy (CIDP).

Oncimmune, the immunodiagnostics company, is using their ImmunoINSIGHTS autoantibody profiling service to understand autoimmune illness and infectious diseases.

SeroTag Infectious Diseases discovery array allows scientists to better understand how SARS-CoV-2 triggers an immune response and forecast how vaccines and treatments for the virus will work using the group’s proprietary biomarker discovery platform.

CIDP is an autoimmune illness that targets the myelin sheaths, which are the fatty coatings that insulate and protect nerves. In its acute phase, CIDP is commonly referred to as Guillain-Barré syndrome, but it is chronic, difficult to diagnose, and can result in irreversible physical damage if not treated early on.

For the new contract, Oncimmune will use SertoTag to discover autoantibodies with a connection to CIDP. Using ImmunoINSIGHTS, the firm can manufacture specific antigens associated with CIDP via the group’s SeroTag platform. SeroTag will screen tests from patients with CIDP to find autoantibodies with relevance.

Dr. Adam M Hill, Chief Executive Officer, Oncimmune commented,”We are pleased to announce this contract with another leading pharmaceutical company, adding to the growing list of global partners, working with us in the rare disease space where there is a real clinical need and opportunity to make a significant impact.”

“This contract will make full use of the unique attributes of our SeroTag platform, and the competencies amongst our scientific colleagues, who are world leaders in autoimmune profiling.”

“As is typical with SeroTag contracts, there is potential for the initial discovery work in autoantibodies to progress to further research and support for therapeutic development, creating and refining CIPD-specific NavigAID panels using additional data and markers to guide drug development and inform patient and disease stratification.”

Gore Street Energy Storage Fund announced the completed acquisition of a 28 MWh operational energy storage asset in Cremzow, Germany.

The Fund saw its share price dip 0.3% to 117.1p on Friday during early morning trading.

Gore Street announced that it had acquired a 90% stake in the asset, with German renewable developer Enertrag maintaining a 10% stake and supporting technical management of the venture.

The company reported that the acquisition would bring its operating assets 232 MW alongside total portfolio assets under management to 629 MW.

The announcement was in line with Gore Street’s mandate to expand outside the UK and Ireland.

The move reportedly allows the company to expand into Europe and participate in wholesale and intra-day arbitrage as a means to bring additional revenue stacking opportunities to the Fund.

Gore Street confirmed that the system is based LG Chem lithium-ion batteries.

“This is a landmark acquisition with compelling fundamentals which not only demonstrates our entry into new markets but also increases our operational cash generating assets, and further diversifies Gore Street’s portfolio,” said Gore Street CEO Alex O’Cinneide.

“We are very pleased to have worked with ENEL on this transaction and look forward to continuing to partner with Enertrag to optimise the asset going forwards.”

“Energy storage is an ever-increasing infrastructure requirement, and we will continue to seek out the best opportunities from our considerable pipeline across our key markets.”

Hammerson shares were trading up 2.14% to 35.36p on Friday morning following the announcement of their full year results.

Hammerson is in the process of recovering from the pandemic.

Hammerson’s adjusted earnings saw an increase of 122% from £37m in FY20 to £81m in FY21. The earnings managed such an increase due to better net rental revenue, lower financing costs and the recovery in profitability of their value retail segment.

Surrender premiums saw a £17m increase followed by a £12m contribution to net rental income, in 2021.

The group’s balance sheet strengthened with £503 in 2021 from disposals. Due to the significant cash from disposals, the group’s net debt reduced by 19% to £1.8bn in 2021.

“Since the beginning of 2021, we have made fundamental changes in our business, realigning our portfolio with £623m of disposals, significantly strengthening the balance sheet, re-setting our organisation and putting in place a clear strategy for value creation focused on our prime urban estates,” stated Rita-Rose Gagné, Chief Executive Officer, Hammerson.

IFRS losses induced by pandemic restrictions reduced by £1.3bn to £429m in 2021.

Good results were seen in all territories as a comeback from the pandemic. Flagship leasing value saw a rise of 150% to £25m in 2021 due to a robust demand for prime space. The occupancy rate of the flagship leasing increased to 96% by FY21 from 93% HY21. Focus remains on the rent and arrears collection, with collections of 99% in 2020, to 90% in ’21 and currently 83% YTD.

“We are already seeing the tangible results from our strategy with strong occupier leasing demand, reduced vacancies, improved collections, a lower cost base and clear path to value creation from our land bank,” commented CEO.

The proposed final dividend of 0.2p per share is still subject to shareholder approval. However, an alternative of an enhanced scrip dividend of 2p per share is also available to the shareholders. Regardless, the dividend payments will be paid out from property income distribution.

Rita said, “The pandemic has accelerated trends in our operating environment, with people engaging with physical space in new ways. Our role is to create and curate relevant, appealing and sustainable spaces for the future.”

The FTSE 100 fell on Thursday as the world learnt of intensifying fighting in Ukraine and the promise of further action by the West on the Russian economy in an attempt to stop Russia’s atrocities.

The FTSE 100 was trading down 0.6% at 7,386 on Thursday morning as strong commodity shares failed to keep the index in positive territory.

“The stock market is trading slightly weaker this morning as investors continue to fret over the consequences of Russian aggression in the Ukraine. OPEC+ agreed to lift crude oil output yesterday, but only by a fraction of the amount that Russia used to supply each day,” said Steve Clayton, Fund Manager at HL Select.

“With the squeeze on energy supplies becoming ever clearer, crude oil prices continue to surge, with Brent crude jumping $4 per barrel to $117 this morning.”

“Iron ore futures are also on the climb so no surprises that commodity producers are dominating the leader board in the stock market this morning.”

Miners Rio Tinto, Antofagasta, Glencore and Anglo American were among the FTSE 100 risers.

Glencore’s share price climbed 5.8% to trade 479.2p, the highest level since 2012, with the commodities producer seeing huge rewards from higher commodity in a time of massive market volatility.

The London Stock Exchange Group saw a share price rise of 7.9% to 6,866p as a result of its Refinitiv acquisition. The Group reported that its cost synergies after the acquisition were ahead of target, noting an annual run-rate of £151 million in 2021.

Evraz rebounded from its drop yesterday with an increase of 6% to 63.5p as bargain hunters stepped in. The price shift comes despite the company’s scheduled exit from the FTSE 100 on March 21 as a result of its volatility following Russia’s invasion of Ukraine impacting its operations in the state.

ITV shares sink

ITV shares fell 16% to 92.5p despite the group’s strong financial performance.ITV is attempting to accelerate their streaming services, with the launch of ITVX in 2022. The new streaming service is expected to raise the firm’s digital revenues to £750m by 2026.

The investment for ITVX amounts to £20m in 2022 and an additional £160m in 2023.

“With the success of ITV Hub, ITV Hub+, Planet V and BritBox we see an exciting opportunity to at least double our digital revenues to £750m by 2026,” said Carolyn McCall, CEO, ITV.

The firm recorded 2021 revenues at $1.7bn which is a 28% rise from 2020 figures. Operating profit grew to £519m in 2021 from £356m. EBITDA increased by 41% to £813m.

The company proposed a final dividend of 3.3p for 2021.

Admiral

Admiral shares are trading down 10% to 2683p following the update on the firm’s financial results. The firm set expectations for dividend pay-outs to be 197p per share, however, they paid out 187p per share in total dividends. The group recorded a loss of £21m from £9m in the International Insurance segment despite growth of 13% in consumers.

Covid claims and business expansions were the reason behind the loss.Gross pretax profits saw an rise of 26% to £769m. Admirals posted a 4% turnover rise from £3.3bn to £3.5bn.

“The strong performance of UK Motor insurance is the key driver of our results. We also continued to expand our customer proposition. In 2021 alone, beyond UK Motor we added more than half a million customers, now representing around 40% of total Group customers,” said Milena Mondini de Focatiis, Group CEO, Admiral.

Sovereign Metals have signed an offtake MOU for their world class Kasiya titanium rutile project in Malawi.

Sovereign Metals said they have signed a memorandum of understanding with Hascor, a market leading global processor and distributor of rutile products for the welding industry.

The MOU would see a supply of 25,000 tonnes of natural rutile per annum delivered to Hascor which has processing plants across five continents.

Rutile prices of offtake destined for the welding industry generally demand a premium when compared to rutile used in pigments.

The MOU is non-exclusive and non-binding and is subject to ongoing negotiations. The MoU will expire on 31 December 2023 but has the option to be extended.

“We are very excited to have signed this MoU with a major rutile supplier like Hascor about a future offtake agreement and to provide input on marketing for our premium rutile products from Kasiya,” said Sovereign’s Managing Director Dr Julian Stephens.

“Hascor is a market leader in natural rutile product development and distribution for the welding industry across five continents. The offtake MoU with Hascor points to the quality and strategic nature of our world-class Kasiya Rutile Project.”

The global rutile market currently demands 2.8mt per annum and Sovereign Metals is well placed to serve this market with the Kasiya project, the world’s largest undeveloped Rutile resource.