TRADING UPDATES: Futura Medical's fundraise and formal sale process

The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Oxford BioDynamics PLC - Oxford, England-based biotechnology company that develops medical tests - Notes peer-reviewed study led by the University of East Anglia that applied its EpiSwitch Orion AI-enabled discovery platform to five clinically distinct conditions associated with profound, disabling fatigue. The study found that, despite almost no overlap between the genes individually associated with each condition, they converge on shared regulatory networks when viewed through the lens of 3D genome architecture. Oxford BioDynamics says this demonstrates how its EpiSwitch Orion can uncover new biological insights from existing genomic data, supporting pharma, biotech and academic research into complex diseases.

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Sintana Energy Inc - oil and gas company targeting Angola, Namibia and Uruguay, with offices in London and Toronto - Notes the completion of the previously announced transaction between TotalEnergies SE and Galp Energias, under which TotalEnergies has acquired a 40% operated interest in Petroleum Exploration Licence 83, home to the giant Mopane discoveries in Namibia's Orange Basin. Sintana maintains an indirect 49% interest in Custos Energy, which holds a 10% interest in PEL 83. This provides Sintana with an effective 4.9% interest in PEL 83.

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Mindflair PLC - investor in artificial intelligence technology - Notes that Sure Valley Ventures' second fund, in which Mindflair holds an interest, has led a USD1.6 million pre-seed investment round into Join Souk Ltd, a British technology business developing an AI Partner Manager for business-to-business companies. The round also includes participation from Antler, Fuel Ventures and strategic angel investors from across the business-to-business software industry. The funding will be deployed into product development as Souk builds out the core architecture of its AI platform. Mindflair Director

Nicholas Lee comments: "Souk is applying AI to an important but often under-managed area of B2B growth. Its platform is designed to automate the labour-intensive work involved in managing partner relationships and help companies derive greater value from existing networks. We are pleased to see SVV lead this funding round, which will support Souk as it continues to develop its product and build the business."

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Futura Medical PLC - Guildford, England-based pharmaceutical company - Raises £1.6 million through a placing of 801.0 million new shares at 0.2 pence each and launches a mergers and acquisitions and formal sale process. Says proceeds will strengthen its working capital position and support the commercial development of erectile dysfunction treatment Eroxon. Also seeks to raise up to £150,000 through a retail offer at the same price. The placing is conditional on shareholder approval at a general meeting on September 23. Futura says the company has limited cash resources and the board believes that it is now in the best interests of shareholders to explore a range of strategic alternatives with the objective of maximising shareholder value. These alternatives include the potential sale of one or more of the company's assets and licensing or other commercial arrangements, and the potential sale of the company as a whole. As a result, decides to commence a formal sale process in accordance with the Takeover Code. Completion of the fundraise is expected to provide cash resources into February 2027, which would allow the company to explore this M&A process and formal sale process and continue executing on its strategy in the near term.

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Kazera Global PLC - mining investment company, which focuses on early-stage assets in South Africa and Namibia - Agrees to pay USD1.0 million to settle outstanding claims from Fujax South Africa, describing the agreement as a positive resolution of a historic liability. Settles the USD1.0 million liability via the USD500,000 issue of shares to Fujax and USD500,000 in cash - payable in five monthly payments of USD50,000 and a final USD200,000 payment, on or before 1 March 2027. Says its existing cash resources are sufficient to meet current obligations but would limit its capacity for further investment following the settlement. Is therefore considering an equity fundraising of around £500,000 to strengthen its balance sheet and support ongoing activities. Requests a temporary suspension of trading in its shares while it progresses the proposed fundraising. Interim Chief Executive Officer Richard Jennings says: "The Fujax settlement removes another significant legacy liability on terms which we believe are very favourable to Kazera, with only half of the settlement payable in cash and those payments spread through to March next year."

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Renalytix PLC - London-based diagnostics company - Plans to raises up to £1.0 million via a retail offer at 6 pence per share in addition to the already announced £10.1 million placing.

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Sealand Capital Galaxy Ltd - Asia-focused digital investor that offers financial and strategic support to entrepreneurs - Announces the launch of MercuryGlitter, a new AI-generated content platform designed to help businesses create and manage high-quality content. MercuryGlitter has been established through a collaboration between Sealand and a team spanning AI technology and creative management. The platform will operate through MercuryGlitter (HK) Ltd. Chief Executive Daniel Cao says: "Artificial intelligence is entering a new phase where competitive advantage will increasingly depend on the ability to transform AI into practical, commercial applications. MercuryGlitter brings together deep creative industry experience with AI technology and software engineering, giving us a strong foundation from which to build a scalable business in AI-powered content."

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CyanConnode Holdings PLC -Cambridge, England-based developer of narrowband radio frequency mesh networks - Scheme by which Esyasoft Technologies UK Ltd's takeover of CyanConnode will be facilitated is approved at court meeting and general meeting on Thursday. The scheme is expected to become effective on September 14 with the last day of trading on CyanConnode on September 11. In March, Esyasoft made a possible all-cash offer proposal which values the company at £37.5 million, or 10.44 pence per share. The acquisition was accepted by the CyanConnode board late last month.

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