RENE.L Regulatory News (RENE)

7 Jan 2008 13:42

ReNeuron Group plc07 January 2008 PRESS RELEASE Director share purchases Guildford, UK, 7 January 2008: ReNeuron Group plc (LSE: RENE.L) was advisedtoday of the following purchases of Ordinary shares in the Company by directorsof the Company:- Director Number of shares purchased and Total shareholding after price per share purchaseProfessor Trevor Jones (Chairman) 28,000 at 17.8p 111,200Michael Hunt (Chief Executive Officer) 33,000 at 18.38p 237,113Dr John Sinden (Chief Scientific Officer) 28,328 at 17.65p 1,395,913Mark Docherty (Non-executive Director 28,000 at 17.8p 174,400Dr Paul Harper (Non-executive Director) 27,600 at 18.025p 110,800 Enquiries: ReNeuronMichael Hunt, Chief Executive Officer Tel: +44 (0) 1483 302560 Financial DynamicsEuropeDavid Yates Tel: +44 (0) 20 7831 3113Lara MottUSRobert Stanislaro Tel : +1 212 850 5657 About ReNeuron ReNeuron is a leading, UK-based stem cell therapy business. It is applying itsnovel stem cell platform technologies in the development of ground-breaking stemcell therapies to serve significant and unmet or poorly-met clinical needs. TheCompany operates from laboratories in Surrey, UK and Los Angeles, California,USA. ReNeuron has used its c-mycER technology to generate genetically stable neuralstem cell lines. This technology platform has multi-national patent protectionand is fully regulated by means of a chemically-induced safety switch. Cellgrowth can therefore be completely arrested prior to in vivo implantation. ReNeuron has filed for approval to commence initial clinical studies in the USwith its lead ReN001 stem cell therapy for chronic stroke disability. There arean estimated 50 million stroke survivors worldwide, approximately one half ofwhich are left with permanent disabilities. The annual health and social costsof caring for these patients is estimated to be in excess of £5 billion in theUK and in excess of US$50 billion in the US. In addition to its stroke programme, ReNeuron is developing stem cell therapiesfor Parkinson's disease, Huntington's disease, Type 1 diabetes and diseases ofthe retina. The Company recently announced the acquisition of the businessassets of AmCyte Inc. in the US, bringing clinically-tested cell encapsulationtechnology to ReNeuron's ReN002 diabetes programme. ReNeuron has leveraged its stem cell technologies into non-therapeutic areas -its ReNcell(R) range of cell lines for use in research and in drug discoveryapplications in the pharmaceutical industry. ReNeuron's ReNcell(R)CX andReNcell(R)VM neural cell lines are marketed worldwide under license by MilliporeCorporation. 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 atwww.reneuron.com. Data sources: UK Stroke Association; American Stroke Association. This announcement contains forward-looking statements with respect to thefinancial condition, results of operations and business achievements/performanceof ReNeuron and certain of the plans and objectives of management of ReNeuronwith respect thereto. These statements may generally, but not always, beidentified by the use of words such as "should", "expects", "estimates","believes" or similar expressions. This announcement also containsforward-looking statements attributed to certain third parties relating to theirestimates regarding the growth of markets and demand for products. By theirnature, forward-looking statements involve risk and uncertainty because theyreflect ReNeuron's current expectations and assumptions as to future events andcircumstances that may not prove accurate. A number of factors could causeReNeuron's actual financial condition, results of operations and businessachievements/performance to differ materially from the estimates made or impliedin such forward-looking statements and, accordingly, reliance should not beplaced on such statements This information is provided by RNS The company news service from the London Stock Exchange