Small caps round-up: Transense Tech, Hightex, Verona Pharma

Transense Technologies, which provides sensor systems for the transportation and industrial markets, has reported that its trading division, Translogik, has received an initial order for its iTrack Tyre Temperature and Pressure Monitoring Systems for mining and off-the-road vehicles from its Indonesian distributor, AutoRFID Solutions.

By MoneyWeek

published 28 August 2012

in Features

The system will be installed as part of a pilot scheme on three of the 168 vehicles at the ADARO mine in Indonesia, one of AutoRFID's clients. Graham Storey, Chief Executive Officer of Transense, said it is "very encouraging that our success in South Africa has triggered this order in what is a new territory for us".

Hightex Group, a systems engineering company, has been selected, along with its Brazilian construction partner SEPA, to engineer and install the membrane structure of the roof of the Beira-Rio Stadium in Porto Alegre, a 2014 FIFA World Cup venue. The deal, which has a value in the region of €10m, marks the firm's second contract win in Brazil. The stadium is the fifth largest in Brazil, and will accommodate around 50,000 spectators. Work will begin immediately and is due to be completed in 2013.

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Verona Pharma, a drug discovery company, has been granted a new patent for its lead drug candidate, RPL554, in the US. The product is being developed for the treatment of patients with chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD) and asthma. The company is currently carrying out clinical trials of the drug to further characterise its bronchodilator and anti-inflammatory effects.

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