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Proactive news summary TyraTech, Atlantis Resources, Silence Therapeutics, Leni Oil & Gas

Published: 11:34 16 Jul 2014 EDT

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TyraTech (LON:TYR) shares advanced as it raised £3.5mln to fund the UK roll-out of its Vamousse head lice treatment range in Superdrug and Boots stores.

Bruno Jactel, Tyratech’s chief executive, said Vamousse’s UK launch was both ahead of the peak head lice season and schedule due to the success and interest generated in the US. "To have obtained listings and partner relationships with both Boots and Superdrug further validates the potential of the Vamousse range of products," he said.

As generating a great deal of interest was Atlantis Resources (LON:ARL), the owner of what, when built, will be the world’s largest tidal energy operation. Today it said revealed it has now reached final pricing and terms with a raft of contractors helping build the first phase of the MeyGen Project in Scotland Pentland Firth.

MeyGen is located in the Inner Sound of the Pentland Firth in the far north of Scotland, and phase-one will generate 86 megawatts (MW) of power – enough for 42,000 homes. The site has the potential for almost 400MW of tidal generating plant, or the equivalent to 265 1.5MW tidal turbines.

Atlantis admitted negotiations with the various parties had been “lengthy”. First power is targeted for 2016.

Specialist drug developer Silence Therapeutics (LON:SLN) also reached an important milestone, completing the recruitment for its phase IIa trial of Atu027.

The drug will be used in conjunction with frontline chemotherapy Gemcitabine on 24 patients in Germany to treat advanced pancreatic cancer, which is usually terminal. The primary objective is to evaluate the safety of Atu027 and how it interacts with the body when used in tandem with the other treatment.

Follow up analysis is expected in mid-2015.

Leni Gas & Oil (LON:LGO), an oil firm which is up four-fold in the year to date, could be set to acquire another producing oil field with development upside in Trinidad. It signed an agreement that to buy the Trinity-Inniss field, which began producing in the 1950s and is located around 20 kilometres from the group’s Goudron field. 

Leni is to pay US$5mln to acquire the field, and if the company can replicate its apparent Goudron success at Trinity-Inniss then the new project is likely to yield valuable cash flows and plenty of catalysts for the share price.

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