Last checked at 27 Oct 2017 07:00
27 October 2017 | AIM: RENE |
ReNeuron Group plc
ReNeuron wins further UK grant to advance its exosome therapy platform
ReNeuron Group plc (the "Company") (AIM: RENE), a UK-based global leader in the development of cell-based therapeutics, is pleased to announce that it is the lead industry participant in a new grant award from the Welsh Government to advance its emerging exosome therapy platform.
The grant has been awarded under the Welsh Government's SMARTExpertise scheme and will help fund a £1.2m collaborative programme of work to be undertaken by ReNeuron, Ig Innovations and Swansea University Medical School. The work programme will establish methods to refine and optimise the manufacturing process for generating ReNeuron's CTX cell-derived exosomes with the highest biological efficacy, methods to enhance the characterisation of the CTX-derived exosomes against solid tumours to identify new cancer targets, and methods to characterise exosomes with potential therapeutic benefit derived from ReNeuron's broader proprietary cell line library.
ReNeuron is exploiting its exosome therapy platform as a potential new nanomedicine targeting cancer and as a potential delivery system for drugs that would otherwise be unable to reach their site of action. The SMARTExpertise grant follows the award of a grant to ReNeuron last year from Innovate UK to develop manufacturing systems and to conduct pre-clinical testing relating to the Company's exosome therapy platform.
Commenting on the grant award, Dr Randolph Corteling, Head of Research at ReNeuron, said:
"We are delighted to have won this new grant under the Welsh Government's SMARTExpertise scheme. As a Wales-based business, we are very pleased to be able to work with leading Welsh academic and industry collaborators in order to further progress development of our high-potential exosome therapy platform towards clinical application."
ENDS
ENQUIRIES:
ReNeuron | +44 (0)20 3819 8400 |
Olav Hellebø , Chief Executive Officer | |
Michael Hunt, Chief Financial Officer | |
Buchanan | +44 (0) 20 7466 5000 |
Mark Court, Sophie Cowles, Stephanie Watson | |
Stifel Nicolaus Europe Limited | +44 (0) 20 7710 7600 |
Jonathan Senior, Stewart Wallace, Ben Maddison (NOMAD and Joint Broker) | |
N+1 Singer Advisory LLP | +44 (0) 20 7496 3000 |
Mark Taylor (Joint Broker) |
About ReNeuron
ReNeuron is a leading, clinical-stage cell therapy development company. Based in the UK, its primary objective is the development of novel cell-based therapies targeting areas of significant unmet or poorly met medical need.
ReNeuron has used its unique stem cell technologies to develop cell-based therapies for significant disease conditions where the cells can be readily administered "off-the-shelf" to any eligible patient without the need for additional immunosuppressive drug treatments. The Company has therapeutic candidates in clinical development for motor disability as a result of stroke, for critical limb ischaemia and for the blindness-causing disease, retinitis pigmentosa.
ReNeuron is also advancing its proprietary exosome technology platform as a potential new nanomedicine targeting cancer and as a potential delivery system for drugs that would otherwise be unable to reach their site of action.
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.