Drug discovery minnow Henderson Morley is negotiating a possible licensing deal for its Ionic Contra Viral Therapy (ICVT) technology.

AIM-quoted Henderson, which lost £383,000 in the six months to October, originally developed ICVT as a treatment for herpes. More recently, the company broadened its potential applications to include skin warts, verrucae and other ailments.

Since its flotation in 2001, Henderson has put in a mostly lamentable share price performance, bottoming at 0.43p last August. One bold and loyal backer put in another £250,000 at 0.5p last year and has now been rewarded, at least on paper, with today's 54 per cent rally to 1.24p.

Current prospects hinge on the outcome of the present talks and details of any deal that might possibly emerge.