Daily Roundup

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Elanor Claws Back Securities from Challenger

Elanor Investors Group is making some significant moves as it unwinds its strategic partnership with Challenger. The company will be buying back 12,377,083 units in the Elanor Investment Fund from Fidante, a wholly-owned subsidiary of Challenger. Additionally, Elanor Investors Limited will cancel 12,377,083 of its own shares held by Fidante.

This "clawback" of securities is part of the mutual agreement between Elanor, Challenger, and Challenger Life Company Limited to unwind their long-standing partnership and investment management arrangements. Once complete, Fidante's holding in Elanor stapled securities will be reduced from around 13.3% to just 5.7%. Elanor's total issued capital will also decrease from 152,201,962 to 139,824,879 stapled securities.

The clawback is expected to be finalized by October 16, 2025, with Fidante's remaining stake in Elanor subject to further reduction in a subsequent transaction. This marks a significant milestone as Elanor continues to reshape its strategic direction.

Trading Halts and Announcements

Elsewhere in the market, a few companies have requested trading halts as they prepare to make important announcements.

PYC Therapeutics has requested an immediate trading halt on its securities pending an announcement about pending changes to its board and management. The halt is expected to be lifted by September 23, when PYC will provide more details.

In a related move, PYC has also issued a correction to its initial trading halt request, clarifying that it is not planning a capital raising as previously suggested, and will instead focus the announcement on the leadership changes.

Over at Beam Communications, the company has requested a trading halt as it prepares to update the market on the status of the sale of its 50% interest in the ZOLEO Inc. joint venture to Roadpost Inc. The halt will remain in place until Beam makes the announcement or until trading resumes on September 23.

Finally, Echoiq Ltd has also paused trading in its securities, though the reason for the pause has not been specified. Investors will have to wait for the company's next announcement to learn more.

Echoiq Progresses CPT Code Application

In more positive news, Echoiq Ltd has provided an update on its application for a Category III Current Procedural Technology (CPT) code for its EchoSolv AS product in the US. The company has concluded its presentation to the CPT Editorial Panel and is now awaiting the announcement of the panel's votes, expected in the next 2-4 weeks.

While Echoiq hasn't received any indication of the panel's decision yet, the company remains focused on the ongoing deployment of EchoSolv AS with hospital groups, partners, and clinics in the US. Echoiq is also continuing to progress FDA clearance for EchoSolv HF and explore new product development, licensing, and partnership opportunities.

Clinuvel Showcases SCENESSE Vitiligo Results

Finally, Clinuvel Pharmaceuticals has presented new case studies demonstrating the efficacy of its drug SCENESSE (afamelanotide 16mg) in treating vitiligo patients. The three cases, presented at the European Academy of Dermatology and Venereology conference, showed significant and stable repigmentation in patients with long-standing disease, with no unexpected safety issues.

Clinuvel's Director of Global Clinical Affairs, Dr. Emilie Rodenburger, expressed satisfaction with the results, noting that the treating physicians are excited to have a therapy that works for patients with extensive vitiligo.