Guildford, UK, 2 December 2005: ReNeuron Group plc (LSE: RENE.L) has noted the UK government responses to the report and recommendations of the UK Stem Cell Initiative Panel, chaired by Sir John Pattison. The report sets out the status of stem cell research in the UK and provides a vision and strategy to maintain the UK’s position as a world leader in this area of bioscience.
The recommendations in the Panel’s report were accepted in full, with the government committing to provide £100 million towards stem cell research projects over the next two years, with increasing annual spend thereafter as the field develops.
Commenting on the announcement, Michael Hunt, CEO of ReNeuron, said:
“The government’s responses to the UK Stem Cell Initiative’s recommendations are a significant step in the right direction in terms of maintaining the UK’s pre-eminence in stem cell research, especially in light of the frustrations felt by researchers elsewhere in the world, such as the US, where the legislative environment in this area is far less supportive. We particularly welcome the commitment by the government, through the Medical Research Council, to contribute to funds raised by the UK Stem Cell Foundation for clinical and translational stem cell research in the UK.
“Although much more resource and support will be required in the longer term to keep the UK ahead globally in this field as stem cell technologies progress, the UK currently remains one of the world’s best places in which to conduct stem cell research and development.”
Notes to editors
ReNeuron is a leading, UK-based adult stem cell therapy business. The Company 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-mycERTAM technology to generate genetically stable neural stem cell lines. This technology platform has multi-national patent protection 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, is in late pre-clinical development. The Company plans to file for approval to commence initial clinical trials in stroke by mid-2006, with trials commencing as soon as possible thereafter.
In addition to its ReN001 stroke programme, ReNeuron has programmes to develop stem cell therapies to address Huntington’s disease, Parkinson’s disease, Type 1 diabetes and diseases of the eye.
ReNeuron has also leveraged its stem cell technologies into non-therapeutic areas – its ReNcellTM range of cell lines for use in drug discovery applications in the pharmaceutical industry.
The Company successfully completed its flotation on the London AIM market in August 2005, raising £9.5million before expenses. At flotation, the Company also issued warrants which, if exercised, will raise a further £5.7m for the Company 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 at www.reneuron.com.
Michael Hunt, Chief Executive Officer
Tel: 01483 302 560
Tel: 020 7831 3113
The terms “ReNeuron” or “the Company” refer to ReNeuron Group plc and its subsidiary undertakings.