Last checked at 13 Jan 2022 07:00
ReNeuron Group plc
("ReNeuron" or the "Company")
Additional agreement with Fosun Pharma for CTX
Progression with Fosun Pharma underscores commitment to CTX stroke disability programme
ReNeuron Group plc (AIM: RENE), a UK-based leader in Stem cell and Exosome Technologies, announces that following on from the original Fosun Pharma ("Fosun") licensing agreement announced on 9 April 2019, the Company has signed an additional agreement with Fosun, on 5 January 2022, setting out the first steps in the potential technology transfer of the CTX drug product for the stroke disability programme.
The agreement allows for £320,000 to be invoiced on signing with further payments expected, based on services and CTX cell bank vials to be supplied by ReNeuron in the future, although these are contingent on signing a supplemental payment terms agreement which is currently under discussion.
ReNeuron will update the market further once agreement on these terms have been reached.
Olav Hellebø, Chief Executive Officer, commented: "We are pleased to announce progress in the technology transfer of the CTX drug product to Fosun and believe this highlights the commitment Fosun has to the programme in Greater China."
ENDS
Contacts:
ReNeuron | www.reneuron.com/investors |
Olav Hellebø, Chief Executive Officer | Via Walbrook PR |
Catherine Isted, Chief Financial Officer |
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Stifel Nicolaus Europe Limited (NOMAD and Joint Broker) Ben Maddison, Stewart Wallace | +44 (0)20 7710 7600
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Allenby Capital Limited (Joint Broker) | +44 (0)20 3328 5656 |
James Reeve/George Payne (Corporate Finance) |
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Stefano Aquilino (Sales & Corporate Broking) |
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Walbrook PR (Media & Investor Relations) | +44 (0)20 7933 8780 or reneuron@walbrookpr.com |
Paul McManus, Alice Woodings, Megan Boxall | +44 (0)7980 541 893 / +44 (0)7407 804 654 / +44 (0)7788 151 967 |
About ReNeuron
ReNeuron is a UK based Proprietary Stem Cell and Exosome Technologies company, harnessing its unique stem cell technologies to develop 'off the shelf' treatments for disease with significant unmet needs.
The Company's lead cell therapy candidate is in clinical development for the blindness-causing disease, retinitis pigmentosa. The Company has also out-licensed its CTX programme in stroke disability to Fosun in China.
ReNeuron's stem cell derived proprietary Exosome Technology platform offers a delivery mechanism for a variety of payloads such as siRNA, mRNA, proteins, small molecules and genes. The Company has a growing number of partner collaborations with Global Pharma, Biotech and academic partners in this fast-expanding area of scientific and commercial interest. ReNeuron also has the ability through its conditionally immortalised induced pluripotent stem cell (iPSC) platform to make allogeneic tissue cells of choice and has the potential to produce exosomes with tissue specific targeting ability.
ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. For further information visit www.reneuron.com