Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Equity Bottom-Up

<ul>
<li>Arrow Exploration Corp 11.75p £38.59m (AXL.L) The high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins updates on drilling at Mateguafa Oeste-1, on the Tapir Block in the Llanos Basin where Arrow holds a 50% interest.</li>
<li>The exploration well was spudded on September 21 and reached target depth on September 26.</li>
<li>The primary targets were the sands of the Ubaque formation which have been prolific producing reservoirs in the nearby Carrizales Norte field. </li>
</ul>


Arrow Exploration Corp 11.75p £38.59m (AXL.L) The high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins updates on drilling at Mateguafa Oeste-1, on the Tapir Block in the Llanos Basin where Arrow holds a 50% interest.
The exploration well was spudded on September 21 and reached target depth on September 26.
The primary targets were the sands of the Ubaque formation which have been prolific producing reservoirs in the nearby Carrizales Norte field. 


Seraphim Space Investment Trust / Equity Bottom-Up

Seraphim Space Investment Trust (SSIT LN)

<ul>
<li>Hybridan Monthly, 1 October 2025 Market Comment: View from the Broker’s Desk Why you can’t compare a Defender to a Lamborghini I would always choose a Defender (90 version of course, not the Chelsea tractor new style) over a Lamborghini.</li>
<li>Whilst many will always be taken in by the allure of brighter colours, louder engines, and slender appearance, there are some that will stay loyal to the homegrown juggernaut.</li>
<li>It’s becoming an unfortunate common occurrence when you pick up the paper and read “My $1bn fintech wants to float — but London’s out of the question”.</li>
</ul>


Hybridan Monthly, 1 October 2025 Market Comment: View from the Broker’s Desk Why you can’t compare a Defender to a Lamborghini I would always choose a Defender (90 version of course, not the Chelsea tractor new style) over a Lamborghini.
Whilst many will always be taken in by the allure of brighter colours, louder engines, and slender appearance, there are some that will stay loyal to the homegrown juggernaut.
It’s becoming an unfortunate common occurrence when you pick up the paper and read “My $1bn fintech wants to float — but London’s out of the question”.


Seraphim Space Investment Trust PLC - Hybridan Monthly, 1 October 2025

<ul>
<li>15th September: Project Glow Topco Limited, the ultimate holding company of The Beauty Tech Group Limited, a global leader in the rapidly growing at-home beauty technology market, has confirmed its intention to float on the Main Market.</li>
<li>The Beauty Tech Group encompasses three distinct, innovative and premium beauty technology brands - CurrentBody Skin, ZIIP Beauty and Tria Laser - under which it develops, manufactures and retails at-home beauty devices.</li>
<li>In FY24, the Group reported revenue of £101.1m and adjusted EBITDA of £22.9m.</li>
</ul>


15th September: Project Glow Topco Limited, the ultimate holding company of The Beauty Tech Group Limited, a global leader in the rapidly growing at-home beauty technology market, has confirmed its intention to float on the Main Market.
The Beauty Tech Group encompasses three distinct, innovative and premium beauty technology brands - CurrentBody Skin, ZIIP Beauty and Tria Laser - under which it develops, manufactures and retails at-home beauty devices.
In FY24, the Group reported revenue of £101.1m and adjusted EBITDA of £22.9m.


Windar Photonics PLC - Hybridan Small Cap Feast: 15/09/2025

Beeks Financial Cloud Group / Equity Bottom-Up

<ul>
<li>The biopharmaceutical company focused on drug development and delivery in diabetes and other cardiometabolic diseases, announces that it has concluded a positive Type C meeting with the US Food and Drug Administration (FDA) for AT278 in people with both type 1 and type 2 diabetes with high daily insulin needs.</li>
<li>The purpose of the meeting was to discuss the design of a proposed Phase 2 clinical study for AT278 delivered by continuous infusion via an Automated Insulin Delivery (AID) system, ahead of a planned Investigational New Drug (IND) submission.</li>
<li>Arecor reports they are on track to commence Phase 2 study in mid-2026, subject to further funding.</li>
</ul>


The biopharmaceutical company focused on drug development and delivery in diabetes and other cardiometabolic diseases, announces that it has concluded a positive Type C meeting with the US Food and Drug Administration (FDA) for AT278 in people with both type 1 and type 2 diabetes with high daily insulin needs.
The purpose of the meeting was to discuss the design of a proposed Phase 2 clinical study for AT278 delivered by continuous infusion via an Automated Insulin Delivery (AID) system, ahead of a planned Investigational New Drug (IND) submission.
Arecor reports they are on track to commence Phase 2 study in mid-2026, subject to further funding.


<ul>
<li>The oil and gas exploration company with interests in the BNG Conract Area in the Pre Caspian basin in Western Kazakhstan reports that a further approximately $7m has been received in connection with the disposal BNG Contract Area's shallow MJF and South Yelemes structures bringing the total received to date to approximately $69.1m of the $88m total consideration.</li>
<li>Formal completion of the Disposal is expected before the end of August 2025, following the transfer of various operational consents and licences.</li>
<li>Of the remaining approximately $18.9m due, approximately $5.1m is due to be received over a 12 month period commencing 6 months after formal completion and a further $13.8m is due to be received quarterly over the next 5 years to match the obligations relating to the remainder of the original $32m MJF Historic Costs assessment.</li>
</ul>


The oil and gas exploration company with interests in the BNG Conract Area in the Pre Caspian basin in Western Kazakhstan reports that a further approximately $7m has been received in connection with the disposal BNG Contract Area's shallow MJF and South Yelemes structures bringing the total received to date to approximately $69.1m of the $88m total consideration.
Formal completion of the Disposal is expected before the end of August 2025, following the transfer of various operational consents and licences.
Of the remaining approximately $18.9m due, approximately $5.1m is due to be received over a 12 month period commencing 6 months after formal completion and a further $13.8m is due to be received quarterly over the next 5 years to match the obligations relating to the remainder of the original $32m MJF Historic Costs assessment.


United Kingdom

Shield Therapeutics is a commercial-stage specialty pharmaceutical company focused on pharmaceuticals for unmet medical needs. Its primary product, Accrufer/Feraccru (ferric maltol), is an oral therapy for iron deficiency with or without anemia. The company was founded in 2008 and is headquartered in Gateshead, United Kingdom.

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Shield Therapeutics (STX LN)

Hybridan Small Cap Feast: 01/10/2025

he high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins updates on drilling at Mateguafa Oeste-1...

Hybridan

Seraphim Space Investment Trust PLC - Hybridan Monthly, 1 October 2025

Whilst many will always be taken in by the allure of brighter colours, louder engines, and slender appearance, there are some that will stay loyal...

Hybridan

Windar Photonics PLC - Hybridan Small Cap Feast: 15/09/2025

Between the financial period for the 16 months ended 31 January 2023 (FY22) and FY24, the Group's own-brand revenue and adjusted EBITDA grew at a...

Hybridan

Hybridan Small Cap Feast: 04/09/2025

The purpose of the meeting was to discuss the design of a proposed Phase 2 clinical study for AT278 delivered by continuous infusion via an...

Hybridan

Hybridan Small Cap Feast: 23/07/2025

Formal completion of the Disposal is expected before the end of August 2025, following the transfer of various operational consents and licences.

Hybridan

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