Headlines from the Proactive UK newsroom.
ImmuPharma (LON:IMM) has signed an exclusive licence and development agreement with Avion Pharmaceuticals for its Lupus treatment Lupuzor. Avion will fund a new international Phase III trial up to a cost of US$25mln and commercialise the treatment in the US.
Faron Pharmaceuticals (LON:FARN) has received approval from the US FDA for its Investigational New Drug application for cancer immunotherapy treatment Clevegen. The approval will allow expansion of Clevegen’s ongoing phase I/II trial into the US.
Bahamas Petroleum (LON:BPC) is to set up a mutual fund investment vehicle in the country with the sole mandate of owning its shares. Through this fund, Bahamians will be able to invest in the company and be part of the exploration and potential development of hydrocarbon resources there.
Virgin Money (LON:VMUK) has suspended its dividend after racking up additional PPI costs of £385mln in the final three months of its year to September. Underlying profits fell 7% while there was a post-tax loss for the year.
Online grocer Ocado (LON:OCDO) has chosen Bristol as the location of its sixth customer fulfilment centre and the first in a new mini format. The facility will have the capacity for over 30,000 orders per week compared to 85,000 orders per week for the last centre it opened.
Amigo Loans (LON:AMGO) profits slumped by 13% as the guaranteed loans specialist took a £10mln provision for complaints. The bad debt ratio also rose sharply in its latest six months.