Small caps round-up: Theo Fennell, Xenetic Biosciences, Xenetic Biosciences

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Theo Fennell, the jewellery seller, has confirmed it is in preliminary talks with private equity player EME Capital. An offer period has now begun and EME has until the close of business on October 3rd to make a formal offer or withdraw. Fennell's share price rose 15% in response to the news.

Cancer treatment and vaccines firm Xenetic Biosciences has appointed Russian researcher Dr. Alexander Gabibov to its scientific advisory board. This appears to be something of a coup for Xenetic, with Gabidov already a member of France's National Academy of Pharmacy while serving as President of the Russian Biochemical and Molecular Biology Society. Xenetic's shares were up 8.6% by 11:15.

Silanis International, which provides e-signature solutions has reported a sharp drop in revenue for the first half. Turnover to the end of June was $3.3m, down from $7.3m in the same period last year. The firm says this reflects a big order in the prior year period. The shares dropped 9% in morning trading.

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