RENE.L Regulatory News (RENE)

25 Oct 2005 07:00

ReNeuron Group plc25 October 2005 PRESS RELEASE ReNeuron Group plc demonstrates key characteristics with its hepatocyte (liver) cell lines for drug discovery applications Guildford, UK, 25 October 2005: ReNeuron Group plc (LSE: RENE.L) today announcedthat it has developed human hepatocyte (liver) cell lines using its proprietaryc-mycERTAM platform technology. These cell lines have been shown to express arange of adult human liver functional markers, indicating their potential valueas a tool in assessing new drugs in terms of hepatic metabolism, enzymeinduction and cellular toxicity. The study was conducted in collaboration with Professor Peter Goldfarb andcolleagues at the Molecular Toxicology Group, School of Biomedical & MolecularSciences, University of Surrey, Guildford, UK. The work is being presented todayat the 13th North American International Society for the Study of XenobioticsMeeting in Maui, Hawaii, USA, and was funded in part by a grant under the UKDepartment of Trade and Industry Knowledge Transfer Partnership Scheme. ReNeuron has filed patents covering the production of hepatocyte cell linesusing its c-mycERTAM platform. Further work is underway to optimize theproduction and characterization of these cell lines, ahead of making themcommercially available to the pharmaceutical industry as part of ReNeuron'sexisting ReNcell product portfolio of cell lines for use in drug discoveryapplications. Commenting on the announcement, John Sinden, CSO of ReNeuron, said: "The development of functional and patent-protected hepatocyte cell lines is asignificant step forward in ReNeuron's strategy of applying its world-class stemcell technologies in both therapeutic and non-therapeutic settings. We believethat this addition to our ReNcell range of non-therapeutic cell lines representsan exciting commercial prospect for ReNeuron. It offers well-characterisedhuman, rather than animal, cells for toxicology profiling and otherhigh-throughput screening applications in the drug development process. "This development further supports our strategy to derive near-term commercialrevenues from our ReNcell products to contribute to the funding of our core stemcell therapeutic programmes." Enquiries: ReNeuronMichael Hunt, CEO Tel: 01483 302 560John Sinden, CSO Financial DynamicsDavid YatesSarah Macleod Tel: 07747 602739 Notes to Editors ReNeuron is a leading, UK-based adult stem cell therapy business. The Company isapplying its novel stem cell platform technologies in the development ofground-breaking stem cell therapies to serve significant and unmet or poorly-metclinical needs. ReNeuron has used its c-mycERTAM technology to generate genetically stableneural stem cell lines. This technology platform has multi-national patentprotection and is fully regulated by way of a chemically-induced safety switch.Cell growth can therefore be completely arrested prior to in vivo implantation. The Company's lead stem cell therapy, ReN001 for chronic stroke disability, isin late pre-clinical development. The Company plans to file for approval tocommence initial clinical trials in stroke by mid-2006, with trials commencingas soon as possible thereafter. In addition to its ReN001 stroke programme, ReNeuron has programmes to developstem cell therapies to address Huntington's disease, Parkinson's disease, Type 1diabetes and diseases of the retina. ReNeuron has also leveraged its stem cell technologies into non-therapeuticareas - its ReNcell range of cell lines for use in drug discovery applicationsin the pharmaceutical industry. The Company successfully completed its flotation on the London AIM market inAugust 2005, raising £9.5million before expenses. At flotation, the Companyalso issued warrants which, if exercised, will raise a further £5.7m for theCompany by February 2007. ReNeuron's shares are traded under the symbol RENE.L,and its warrants are traded under the symbol RENW.L. Further information on ReNeuron and its products can be found atwww.reneuron.com. 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. The terms "ReNeuron" or "the Company" refer to ReNeuron Group plc and itssubsidiary undertakings. This information is provided by RNS The company news service from the London Stock Exchange