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Biotech entrepreneur Sir Christopher Evans is turning his attention to medical devices. He recently became chairman of Zi Medical, after reversing Oxford Newtech into the developer of syringes and drips that monitor the flow of liquids into the body. This deal, which left Evans’ Merlin Biosciences investment vehicle with a near 50 per cent stake, was done at 7p a share.

Chief executive Callum McKinlay is keen to consolidate this sector and has started with a vengeance – approaching needle-free drug delivery technology developer NMT with a proposed bid. This sent Zi’s shares up 17 per cent to 9.38p. NMT is currently valued at little more than its £6.5 million cash pile, even after the offer talks sent the shares up 3p to 73p.

Some big deals helped the AIM Index surge 15.3 points to 1094.3 during the week.

Real estate manager First Property jumped 50 per cent to 22.5p after winning a mandate from the Universities Superannuation Scheme to manage a new £50 million commercial property fund, backing assets in the UK and eastern Europe. This transforms the group, which currently has just £21 million under management.

Talking of academic matters, life sciences investor Amphion Innovations started trading on AIM at a ten per cent premium to the 25p placing price at which £5 million was raised. This valued the concern, which works with universities and others to commercialise their ideas, at £24.75 million. One of the Amphion team’s greatest successes is billion-dollar Nasdaq concern Celgene.

Monstermob enters China

Mobile phone content developer Monstermob, which releases its first half figures on 5 September, acquired rapidly expanding Chinese mobile content services provider ATOP Century for $100 million in a cash-and-shares deal.

This gives the ambitious company, chaired by Orange founder Hans Snook, a strong foothold in the world’s largest mobile phone market – with users forecast to grow by 225 million in the next three years from a current level of 345 million.

Monstermob’s shares have had a strong run, leaping 437 per cent this year. They came back 10p to 429.5p, as the group will issue shares as consideration to ATOP at only 350p a share.

Another international deal saw black vodka maker Blavod Extreme Spirits, ahead 25 per cent to 37.25p, team up with US drinks giant Suntory in a joint venture called Diamante Spirits to develop new spirits brands.

And online direct marketer Interactive Prospect Targeting bought direct mail specialist Postal Preference Service from Royal Mail and the Dutch Post Office for £675,000. The AIM concern will also take on the business’ £3.65 million debts. IPT dropped marginally during the week to 137.5p, but the shares are still double last December’s 68p float price.

Tod quits ATM operator

Nick Tod has quit as chief executive of troubled cash machine maker Scott Tod, in which he retains a 27 per cent stake, after a disagreement about how to revive the group’s fortunes. A £1.1 million full year loss is expected.

Scott Tod’s shares tumbled 15 per cent to 22.5p, prompting chairman David Massie to comment: 'if the phone rings and someone makes an offer, I'd have to consider it'.

There was better news on Friday for computer components distributor Fayrewood, which earlier in the week had delivered uninspiring interim results. The shares shot up 25.4 per cent to 127p on confirming bid talks.  First half figures had shown a 11 per cent fall in pre-tax profits on sales up 4.2 per cent to £238 million and some margin erosion.

Venue right for AIM

Venue Solutions, which supplies a range of venue management technologies to the Scottish Rugby Football Union and Fulham Football Club amongst others, is planning to list on AIM this autumn. Led by Dominic Berger – a former film producer and one-time managing director of online retailer BlackStar – Venue Solutions has already hired a broker ahead of the proposed AIM launch.

No money will be raised at flotation – the group secured £1 million of venture capital backing last year and intends to wait until next year before undertaking a significant fundraising. The loss-making concern, which supplies a variety of computer services to sports stadia and shopping centre operators, expects to break even in 2006.