RENE.L Regulatory News (RENE)

14 Jul 2009 15:48



PRESS RELEASE

ReNeuron welcomes launch of Office for Life Sciences "Life Sciences Blueprint"

Guildford, UK, 14 July 2009: ReNeuron Group plc (LSE: RENE.L) welcomes today's launch of the "Life Sciences Blueprint" document from the Office of Life Sciences, a body created by the Government in January of this year to work with the life sciences industry, academia and the NHS in putting together a package of measures to transform the operating environment for life sciences companies in the UK.

The Blueprint contains a broad sweep of measures focusing on, among other things, the uptake and diffusion of innovative medicines and technologies in the NHS and measures to improve access to finance and investment in smaller UK biotechnology businesses. In particular, the Technology Strategy Board will launch an £18 million regenerative medicine investment programme later this year to support commercial R&D in this field, including funding for regenerative medicine product development and validation. This follows the £150m matched Government funding announced last month as part of the UK Innovation Investment Fund to invest in early-stage technology-based businesses, including life sciences companies.

The Office for Life Sciences Life Sciences Blueprint may be found at:

http://www.dius.gov.uk/innovation/business_support/~/media/publications/O/ols-blueprint.

Michael Hunt, Chief Executive Officer of ReNeuron and a member of the Office for Life Sciences industry working groups, said:

 "We are encouraged that the UK Government has taken these steps to address a number of critical issues facing the life sciences sector in the UK. In particular, ReNeuron welcomes the Government's recognition in the Blueprint of the importance of the regenerative medicine field in the UK. While the amounts are relatively modest, the establishment of the Technology Strategy Board's investment programme in this field should nonetheless provide an initial shot in the arm for industry-led, translational regenerative medicine programmes in this country."

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About ReNeuron

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

ReNeuron recently received regulatory approval to commence a Phase I clinical trial in the UK with its lead ReN001 stem cell therapy for disabled stroke patients. The Company is developing stem cell therapies for a number of other conditions, including peripheral arterial disease 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.

This announcement contains forward-looking statements with respect to the financial condition, results of operations and business achievements/performance of ReNeuron and certain of the plans and objectives of management of ReNeuron with respect thereto. These statements may generally, but not always, be identified by the use of words such as "should", "expects", "estimates", "believes" or similar expressions. This announcement also contains forward-looking statements attributed to certain third parties relating to their estimates regarding the growth of markets and demand for products. By their nature, forward-looking statements involve risk and uncertainty because they reflect ReNeuron's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors could cause ReNeuron's actual financial condition, results of operations and business achievements/performance to differ materially from the estimates made or implied in such forward-looking statements and, accordingly, reliance should not be placed on such statements.