See Today's AIM Risers Featuring Avacta Group agreement with LG Chem Life Sciences
See our roundup of today's AIM risers - see the full LSE winners & losers board here.
Amerisur Resources rises 16% to 13.7p a share
announced that drilling at Indico-1 (30% owned by AMER) on the CPO-5 block reached a 283 feet gross, 209 feet net oil column in the LS3 sand package.
The LS3 sand package is the same formation that holds the 120 feet oil column discovered at Mariposa, some 6.5km north west, which produced a stable rate of c.3200 barrels of oil per day.
John Wardle, CEO of Amerisur said: "In our view the principal pre-drill risk in this well was the presence of significant sand development in the Une formation. The results of the drilling have significantly exceeded our expectations in this respect and of course the very significant oil column encountered means we will have to review, with our partner ONGC Videsh, the resources associated with the Indico structure.”
It also detected no Oil-Water-Contact based on initial analysis, which John Wardle mentioned was “very positive for the eventual size of recoverable reserves within the structure”
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Avacta Group rises 21% to 28.3p a share
announced it agreed an Affimer® therapeutics development partnership and license agreement with LG Chem Life Sciences, part of the South Korean LG Group, to develop Affimer® therapeutics in several disease areas, worth up to $310m in upfront and milestone payments.
The pre-clinical stage biotechnology company is the proprietary owner of Affimer®, which is a radical alternative to the established antibody technology.
Dr. Jeewoong Son, President of LG Chem Life Sciences commented: "We are very pleased to announce collaboration with Avacta Group. Utilizing Avacta's Affimer® technology - a novel non-antibody protein format overcoming limitations of classical antibody-based therapy - and LG Chem's biologics capability in development and manufacturing, it will take us to the next level of treatment paradigm and to open up a new horizon in biologics therapeutic strategies. I believe, this innovative collaboration will deliver value to patients and will transform patients' lives."
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Valirx rises 16% to 1.4p a share
announced its VAL201 clinical trial has revealed a positive effect on Cancer Patients.
Evidence revealed a decrease in prostate cancer biomarker PSA after dosing with VAL201.
Dr Satu Vainikka, CEO of ValiRx, commented: "I am delighted to receive this analysis from an external expert, showing that VAL201 is having a positive and desired effect on prostate cancer patients' disease markers. Effectively, the more a patient takes VAL201, the more a patient's PSA will decrease".
"This is fantastic news and it heralds our entry into the pivotal stage of VAL201's clinical trial programme. I thank the team for their hard work in delivering these very encouraging and positive outcomes".
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Oilex rises 27% to 0.35p a share
has a significant multi TCF potential gas resource at the Cambay PSC in Gujarat state in India in the EP-IV tight siltstones that requires drilling and stimulation optimisation technologies to achieve commercial flow rates.
The company is in discussions with its former JV partner Gujarat State Petroleum Corporation (GSPC) to seek a commercial resolution to transfer GSPC's participating interest in the Cambay PSC to Oilex
Read more here & follow OEX here:
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