LONDON (Alliance News) - Stem cell therapy company ReNeuron Group PLC said it had received the proceeds from its recent GBP64.8 million placing, which will allow it to take all of its current programmes into clinical development, in a statement ahead of its annual general meeting Thursday.
The company said its CTX stem cell therapy candidate for disability caused by ischaemic stroke is currently in a phase II clinical trial, with data expected in the first half of 2016, and its CTX cell therapy candidate for critical limb ischaemia is currently in a phase I trial. It expects safety data from this trial to allow it to move this programme into phase II development towards the middle of 2016.
Elsewhere, the company received regulatory approval for its first clinical trial in the US with its stem cell therapy candidate for retinitis pigmentosa. It expects the first patient to be dosed in this trial before the end of the current year.
Shares in ReNeuron were down 11% at 3.78 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Reneuron (RENE)