Guildford, UK: ReNeuron Group plc (LSE: RENE.L) announces that on 1 August 2007 it allotted and issued 16,476,190 new ordinary shares of 1 pence each in connection with the acquisition of the business and assets of AmCyte and the placing of new ordinary shares with investors to provide working capital for the acquired business for at least the next year. Further details of such acquisition and placing are set out in ReNeuron’s press release of 27 July 2007.
As at 1 August 2007 the enlarged issued share capital of ReNeuron Group plc comprised 154,167,534 ordinary shares of 1 pence each.
Notes to editors
About ReNeuron
ReNeuron is a leading, UK-based stem cell therapy business. It is applying its novel stem cell platform technologies in the development of ground-breaking stem cell therapies to serve significant and unmet or poorly-met clinical needs.
ReNeuron has used its c-mycER technology to generate genetically stable stem cell lines from non-embryonic tissue sources. This technology platform has multi-national patent protection and is fully regulated by means of a chemically-induced safety switch. Cell growth can therefore be completely arrested prior to in vivo implantation.
ReNeuron has filed for approval to commence initial clinical studies in the US with its lead ReN001 stem cell therapy for chronic stroke disability. This represents the world’s first such filing concerning a neural stem cell treatment for a major neurological disorder. There are an estimated 50 million stroke survivors worldwide, approximately one half of which are left with permanent disabilities. The annual health and social costs of caring for these patients is estimated to be in excess of £5 billion in the UK and in excess of US$50 billion in the US.
ReNeuron has also generated pre-clinical efficacy data with its ReN005 stem cell therapy for Huntington’s disease, a genetic and fatal neurodegenerative disorder that affects around 1 in 10,000 people. This programme is in pre-clinical development. In addition to its stroke and Huntington’s disease programmes, ReNeuron is developing stem cell therapies for Parkinson’s disease, Type 1 diabetes and diseases of the retina.
ReNeuron has also leveraged its stem cell technologies into non-therapeutic areas � its ReNcell®range of cell lines for use in research and in drug discovery applications in the pharmaceutical industry. ReNeuron’s ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by 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.
Further information
ReNeuron
Michael Hunt, Chief Executive Officer
Dr John Sinden, Chief Scientific Officer
Tel: +44 (0) 1483 302560
Financial Dynamics
David Yates
Claire Rowell
Tel: +44 (0) 20 7831 3113
Collins Stewart Europe Limited
Tim Mickley
Tel: +44 (0)20 7523 8350