ReNeuron Group PLC - Bridgend, Wales-based stem cell and exosomes technology company - Says it has reduced its headcount by 40% following company restructuring. The company says variable costs of the business have been lowered, with the resulting cash runway now extending to 2024. ReNeuron says its focus is generating in vivo data to validate its exosome delivery technology platform, CustomEx. CustomEx is a drug delivery platform which can be optimised for specific tissue targets leading to improvements in outcome for the patient.
Chair Iain Ross says: "Strategically, the goal is to achieve the commercial validation of our CustomEX delivery platform and in order to do this we will generate in vivo data aimed at clearly differentiating our platform from that of our competitors. We aim to demonstrate the effective uptake, biodistribution and functionality of cargo delivered by CustomEX"
Current stock price: 9.36 pence, up 0.2% on Thursday
12-month change: down 77%
By Harvey Dorset, Alliance News reporter
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Reneuron (RENE)