LONDON (ShareCast) - Shares in ValiRx, the life sciences firm, leapt almost 40% on Tuesday after it said independent trials had confirmed the effectiveness of its prostate cancer drug VAL201. The firm said the "significant and substantively important findings" showed its drug reduced the spread of secondary tumours by up to 50%. It added it would move to clinical trials imminently.

It was also a big morning for Transense Technology, which announced a £500,000 order from Chinese strategic partner Wuhan Fenjin Electric Power Technology. This is the Chinese firm's first order for Transense's monitoring system for critical electric power switchgear equipment in Smart Grid applications. "This order represents the first step in driving mass adoption of [subsidiary] IntelliSAW's proprietary technology within China's high growth Smart Grid market," the firm said, pushing up shares 9% in early trading.

Sweett Group, the international property and infrastructure consultancy, said it had won its first significant framework contract in the water utilities sector. The group will be one of three providers on United Utilities' three year framework. United Utilities provides water and wastewater services to nearly 7m people in the Northwest of England, supplying 3m households and over 200,000 business premises. Its shares rose 7.5% on the news.

Angel Biotechnology Holdings, the biopharmaceutical contract manufacturer, said it had retained both its Investigational Medicinal Products licence and its Manufacturers' and Importers Authorisation licence after a successful review by European standards inspectors from the Medicines and Healthcare products Regulatory Agency. The inspector spent two full days at its Pentlands facility, had no critical or major observations to report and complemented the company's staff on being well motivated and knowledgeable, the firm said.

DCD Media plunged 20% on Tuesday morning after the firm said there were "material uncertainties which may cast significant doubt upon the group and company's ability to continue as a going concern". The problem lies in debt that is due to be repaid in November, over which the firm is currently negotiating with its creditor, Timeweave. DCD announced pre-tax losses of £6.4m for the year to the end of March.

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