Another uneventful day in the crypto market sees Bitcoin and Ethereum slip away from range trading at $27,000 and $1,800 respectively.

But the big news of the day has more to do about the big picture for cryptocurrency.

The European Council has officially signed off on the Markets in Crypto-assets (MiCA) legislation, creating a unified framework across all member states for regulating the cryptocurrency industry. Although aspects of this new regulation, like its proposed identification requirements, aren't fully welcomed by crypto users, the pending framework could be a step in the right direction for the crypto sector to build a foundation for trading, adoption and corporate growth in Europe.

It's a much different direction than the heavy handed approach in the United States that is driving crypto exchanges and enterprises like Binance and Kraken away from growing in North America.

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Medinotec CFO Pieter van Niekerk joins Natalie Stoberman from the Proactive studio to discuss how the company's reach in niche medical device manufacturing and distribution is growing in North America.

Medinotec is a US-based company with a primary investment in DISA Medinotec, a South African medical device manufacturing and distribution company that is a global leader in tracheal non-occlusive airway dilation technology and medical device design, manufacture and distribution.

van Niekerk says the company has taken recent steps to expand in the North American market by obtaining FDA approval for their unique non-occlusive device, as well as listing on the OTCQX market in March of 2023. van Niekerk adds that the company plans to diversify their medical devices through R&D projects, acquisitions, and partnerships, aiming to grow revenue streams and expand their product range.

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Immunic Inc president and CEO Dr Daniel Vitt joined Proactive's Stephen Gunnion with news of the publication of preclinical data confirming that vidofludimus calcium (IMU-838) acts as a potent nuclear receptor-related 1 (Nurr1) activator, in addition to its known mode of action as a dihydroorotate dehydrogenase (DHODH) inhibitor.

Vitt said described it as another exciting milestone for Immunic's lead development program as it suggests that Nurr1 may be responsible for the drug’s postulated neuroprotective effects.

The company has also taken steps to strengthen its intellectual property position with the submission of a new patent application in the United States and European Union, he added.

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Quaero Capital chairman and portfolio manager Philip Best and portfolio manager Marc Saint John Webb take Proactive through the Argonaut Fund as it celebrates its 20th anniversary.

The fund managers explain that the Argonaut Fund focuses on investing in small and micro-cap companies that are often overlooked by mainstream investors. They primarily target European markets, including the UK, identifying undervalued companies with strong balance sheets and attractive prices.

While small and micro-cap stocks have fallen out of favour recently, partly due to recent market volatility, they believe there are many undervalued stocks available for investment. They emphasized the importance of a long-term investment approach and highlight potential themes such as private equity interest and trends in Europe's industrial sector.

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Else Nutrition CEO Hamutal Cohen Yitzhak tells Proactive's Stephen Gunnion that a number of catalyst lie ahead for the company this year, including the launch of its 'ready-to-drink' infant nutrition in the US, its entry to the UK market as a starting point for Europe and Australia as a gateway to China.

Importantly, she said the company remains on track to begin its infant growth clinical study for the FDA and European permits. Receiving FDA approval is a very high priority for Else Nutrition, as it believes that becoming the first non-dairy and non-soy FDA-approved infant formula will be transformational.

Yitzhak also commented on Else's first-quarter results, which showed an 80% year-over-year increase in revenue to $2.9 million.

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FTSE 100 opened Wednesday in negative territory. US debt ceiling talks have stalled, which have sparked fears of a US default.

In corporate news, JD Sports reported an uptick in pre-tax profits for the year to £991mln. However, the retailer remained cautious due to prevailing headwinds such as the macro-economic situation.

British Land, the owner of landmark developments in the City and Paddington, swung to an annual loss of over £1bn. The property group lamented a slump in valuations because of interest rates and broader economic concerns.

Elsewhere, Watches of Switzerland saw shares slump after it said the ‘challenging trading environment’ seen in the past-half year is expected to continue in the coming six months.

Among the small caps, Oxford Cannabinoid said it received approval for a phase 1 trial in the UK for its lead pain relief drug candidate. Participant enrolment it said will begin immediately.

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Jonathan Curtain, the new CFO of Ergomed, discussed his background and the company's growth prospects in an interview with Proactive London.

The specialist services provider to the pharmaceutical industry focuses on growth areas like rare diseases and oncology.

Curtain brings extensive experience in finance and investor relations from his previous role as Senior Vice President of Finance at NASDAQ-listed CRO, Icon PLC.

With strong financial results in 2022, showing revenue growth of 23% and an increased order book, Curtain expressed confidence in Ergomed's ability to deliver and execute projects, and highlighted their positive outlook for mergers and acquisitions to further strengthen their services.

Despite industry headwinds, the company remains optimistic about its future prospects.

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Miramar Resources Limited (ASX:M2R) chairman Allan Kelly tells Proactive that drilling is due to start in the coming weeks at its Whaleshark IOCG Project following the completion of heritage surveys. He says the discovery of a large IOCG deposit could have a significant impact on exploration activities across the wider Gascoyne mineral province, similar to the discovery of the giant Olympic Dam deposit in the 1970s and the Prominent Hill and Carrapateena IOCG discoveries in the 2000s.

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Antipa Minerals Ltd (ASX:AZY) managing director Roger Mason caught up with Proactive soon after receiving final results from drilling at the Citadel joint venture with Rio Tinto along with results from the wholly-owned Paterson Project farm-in with IGO Ltd. Mason also looks ahead to upcoming exploration programs for the company’s four projects.

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Astral Resources NL (ASX:AAR) managing director Marc Ducler tells Proactive that strong diamond drilling results continue to be delivered at depth within Theia deposit of the flagship Mandilla project in WA. These have expanded the mineralised envelope and encouraged the company to add further drill holes to the current program. Astral aims to update the Mandilla mineral resource early next quarter.

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