RENE.L Regulatory News (RENE)

24 Nov 2008 07:00



ReNeuron appoints Bryan Morton as Non-executive Director

Guildford, UK, 24 November 2008: ReNeuron Group plc (LSE: RENE.L) today announces that it has appointed Bryan Geoffrey Morton as a Non-executive Director of the Company with immediate effect.

Mr. Morton, 53, is Chief Executive Officer of EUSA Pharma, Inc., a rapidly growing specialty pharmaceutical company he founded in 2006. He is a Non-executive Director of Protherics plc, Aircraft Medical Ltd, a medical device company and is a member of the Pilgrim Software global advisory board. Mr. Morton began his pharmaceutical career in sales and has held positions in medical information, marketing, sales management, business development and general management during a 30 year career in the healthcare industry, largely with Merck and Co. Inc. and Bristol Myers Squibb.  In 2003, he founded Zeneus Pharma, which was sold to Cephalon Inc. in late 2005 for US$360 million. He has a BSc in Pharmacology from Aberdeen University and a MBA from Durham University.

Professor Trevor Jones, Chairman of ReNeuron, said:

"We are delighted that Bryan is joining the Board of ReNeuron. His background, expertise and contacts in the industry will be invaluable as ReNeuron enters its next phase of development and seeks to realise the clinical and commercial potential of its technologies and therapies."

Bryan Morton said:

"I am delighted to be joining the Board of ReNeuron at such an important point in its development. The appointment fulfills a personal desire to be involved with a business at the forefront of modern medicine and a leader in stem cell therapy, a field with the potential to improve the lives of millions."

In addition to his directorship of the Company, Bryan Morton holds or has held the following directorships, and is or was a member of the following partnerships, during the past five years:

There are no other matters to report under Schedule 2(g) of the AIM Rules in respect of Mr. Morton.

Enquiries:

About ReNeuron

ReNeuron is a leading, UK-based stem cell company. Its primary objective is the development of stem cell therapies targeting areas of significant unmet or poorly met medical need.

ReNeuron has filed for approval to commence initial clinical studies with its lead ReN001 stem cell therapy for disabled stroke patients in both the USA and the UK. There are an estimated 50 million stroke survivors worldwide, approximately one half of which are left with permanent disabilities. The annual health and social costs of caring for these patients is estimated to be in excess of £5 billion in the UK and in excess of US$50 billion in the USA. In addition to its stroke programme, ReNeuron is developing stem cell therapies for a number of other conditions, including peripheral ischaemia, Type 1 diabetes and diseases of the retina.

ReNeuron has also developed a range of stem cell lines for non-therapeutic applications - its ReNcell® products for use in academic and commercial research. The Company's ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by USA-based Millipore Corporation.

ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com.

Data sources: UK Stroke Association; American Stroke Association.