RENE.L Regulatory News (RENE)

24 Jan 2007 07:01

ReNeuron Group plc24 January 2007 ReNeuron secures funding from Michael J. Fox Foundation for ReN004 stem cell therapy for Parkinson's disease Guildford, UK, 24 January 2007: ReNeuron Group plc (LSE: RENE) today announcesthat it has been awarded a grant from the US-based Michael J. Fox Foundation forParkinson's Research (MJFF) to develop its ReN004 stem cell therapy forParkinson's disease. The award was made under MJFF's Therapeutics DevelopmentInitiative, designed to catalyse and expand industry investment in pre-clinicalParkinson's drug development. ReNeuron has previously presented data showing that its ReN004 candidate stemcell lines have the potential to reverse the neurological deficits inpre-clinical models of Parkinson's disease. The data indicated good in vivosurvival of the cell lines and expression of the appropriate markers fordopaminergic neurons, the cell type deficient in Parkinson's patients. The MJFFgrant will allow ReNeuron to build on this pre-clinical data and also develop abiodegradable delivery matrix which the Company believes will be required tosuccessfully implant the required cell type into Parkinson's patients. Thegrant will fund the ReN004 programme over the next year, accelerating itsprogress towards the clinic. In addition to its Parkinson's disease programme, ReNeuron has recently filedfor approval to commence initial clinical studies in the US with its lead ReN001stem cell therapy for stroke. The Company is also developing stem celltherapies for Huntington's disease, Type 1 diabetes and diseases of the retina. Michael Hunt, Chief Executive Officer of ReNeuron, said: "We are delighted to have secured this important first grant for our ReN004therapy from such a pre-eminent and high-profile US grant-awarding bodysupporting research into Parkinson's disease. Significantly, we regard thisaward as an important independent validation of the therapeutic approach we areadopting in seeking to address this debilitating disease. Our ReN004Parkinson's disease programme applies ReNeuron's platform c-mycERTAM cellexpansion technology to a further significant area of unmet medical need." Enquiries: ReNeuronMichael Hunt, Chief Executive Officer Tel: 44 (0)1483 302 560Dr John Sinden, Chief Scientific Officer Financial DynamicsDavid Yates Tel: 44 (0)20 7831 3113Nicola Daley Notes to Editors About Parkinson's disease Parkinson's disease is a progressive neurodegenerative disease of the basalganglia region of the brain, with tremor, rigidity and difficulty initiatingmovement being the most common symptoms. The condition is associated with adeficiency of the chemical dopamine in the brain. It is estimated that fourmillion people worldwide have Parkinson's disease and there is currently noeffective cure. The worldwide market for Parkinson's disease treatments is currently worthapproximately US$2.5 billion, and is dominated by drugs that manage the symptomsof the disease, primarily by raising the level of dopamine in the brain. Thesedrugs do not stop the progression of the disease, however, and are poorlytolerated in many patients. About Michael J. Fox Foundation for Parkinson's Research The Michael J. Fox Foundation for Parkinson's Research is a US-basedorganisation dedicated to ensuring the development of a cure for Parkinson'sdisease within this decade through an aggressively funded research agenda. TheFoundation has funded over $90 million in research to date, either directly orthrough partnerships. The Foundation's Therapeutics Development Initiative hasprovided US$4.6 million in funding to drive industry programmes focused ontranslational research into Parkinson's disease. Further information about MJFF can be found at www.michaeljfox.org. About ReNeuron ReNeuron is a leading, UK-based adult stem cell therapy business. It 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 means of a chemically-induced safetyswitch. Cell growth can therefore be completely arrested prior to in vivoimplantation. ReNeuron has filed for approval to commence initial clinical studies in the USwith its lead ReN001 stem cell therapy for chronic stroke disability. Thisrepresents the world's first such filing concerning a neural stem cell treatmentfor a major neurological disorder. ReNeuron has also generated pre-clinicalefficacy data with its ReN005 stem cell therapy for Huntington's disease, agenetic and fatal neurodegenerative disorder that affects around 1 in 10,000people. This programme is in pre-clinical development. In addition to itsstroke and Huntington's disease programmes, ReNeuron is developing stem celltherapies for Parkinson's disease, Type 1 diabetes and diseases of the retina. ReNeuron has also leveraged its stem cell technologies into non-therapeuticareas - its ReNcellTM range of cell lines for use in research and in drugdiscovery applications in the pharmaceutical industry. ReNeuron's ReNcellTM CXand ReNcellTM VM neural cell lines are marketed worldwide under license byMillipore 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 atwww.reneuron.com. Data sources: MJFF; UK Parkinson's Disease Society; 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. The terms 'ReNeuron', 'the Company' or 'the Group' used in this statement referto ReNeuron Group plc and/or its subsidiary undertakings, depending on thecontext. This information is provided by RNS The company news service from the London Stock Exchange