Daily Roundup

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Biome Launches First Human Clinical Trial on BMB18 Probiotic

Biome Australia has submitted ethics approval and registered its first human clinical trial on its proprietary probiotic strain, Lactobacillus plantarum BMB18. The randomised, double-blind, placebo-controlled trial will recruit 240 participants to investigate the efficacy of BMB18 in improving digestive, sleep, and mood issues.

This marks a significant milestone for Biome, as successful clinical validation of BMB18 is expected to strengthen the company's competitive position, support new product development, and expand its addressable market opportunities in the lucrative gastrointestinal health category.

Sequoia Financial Group Provides Market Update

Sequoia Financial Group has reported that despite challenging conditions, particularly in its Licensee and Adviser Services Division, the company's underlying trading performance is ahead of the prior corresponding period. The unaudited EBITDA (operating profit) for the year-to-date November shows an increase of approximately 15% compared to the same period last year.

However, the company expects to recognize several non-cash impairments and provisions in the upcoming half-year, including a provision for potential claims and an impairment of intangible assets. Sequoia has also reached a final settlement on a legacy advice matter associated with its now-closed Libertas Financial Planning business.

Vection Technologies Reports Strong Q4 Cash Receipts

Vection Technologies, a leading provider of digital transformation solutions, has reported record quarter-to-date cash receipts of ~$14 million, up approximately 115% year-over-year. This strong performance is driven by sustained demand across the company's key verticals, including Defence, AI, Healthcare, Industrial, and Retail.

Vection's Total Contracted Value (TCV) has increased to ~$27 million, and its 3-year pipeline has grown to a record ~$50 million, reflecting the company's strongest commercial position to date. Vection remains focused on growing revenue, increasing recurring income, and accelerating product and market expansion.

FDA Approves DAYBUE STIX, New Powder Formulation for Rett Syndrome

Neuren Pharmaceuticals' partner, Acadia Pharmaceuticals, has received FDA approval for DAYBUE® STIX, a new powder formulation of trofinetide for the treatment of Rett syndrome in adult and pediatric patients. This new formulation offers patients and caregivers more flexibility and choice regarding the dose volume and taste of their DAYBUE treatment.

Neuren, which has granted Acadia an exclusive worldwide licence for the development and commercialization of trofinetide, will receive royalties on all net sales of the product and is eligible for additional milestone payments.

Acusensus Raises $30M in Successful Placement

Acusensus, a technology company designing AI-enabled road safety solutions, has successfully completed a $30 million placement, issuing 20 million new shares at $1.50 per share. The placement was well supported by both existing and new investors and will help the company advance its growth strategy, including business development, contract mobilization, and product innovation.

Acusensus has also announced securing its first major US contract in Connecticut, worth an estimated $34 million over 5 years, as well as expanded existing contracts in Queensland and Western Australia. The company has also established a new $25 million debt facility with Citibank to further support its expansion plans.