LONDON (Alliance News) - Shares rose in ReNeuron Group PLC on Thursday after it reported positive efficacy in a phase one/two clinical trial of its hRPC cell therapy candidate for treating retinitis pigmentosa.
Shares in the cell-based therapeutics developer were 26% higher at 152.59 pence on Thursday.
Retinitis pigmentosa is a disease that causes blindness through a breakdown and loss of cells in the retina, which is the light sensitive tissue that lines the back of the eye.
In the phase one/two clinical trial in the US, ReNeuron reported sustained positive efficacy in the first patient cohort in the phase two part of the study.
This follows a report in February that all three of the first cohort of patients in the study had a rapid and significant improvement in vision, equal to reading an additional three lines of five letters on the EDTRS eye chart.
"We remain greatly encouraged by the continued positive efficacy we are seeing in the ongoing Phase 1/2 study with our hRPC cell therapy candidate for retinitis pigmentosa. We look forward to providing a further update on progress with the study at the time of the Innovation Summit in Vancouver later this month," said Chief Executive Officer Olav Hellebo.
Reneuron (RENE)