Guildford, UK, 28 April 2011: ReNeuron Group plc (LSE: RENE.L) notes today’s press coverage regarding an ongoing European legal case concerning the patentability of human embryonic stem cells.
A legal opinion has been given by the advocate-general of the European Court of Justice (ECJ) regarding a patent test case originally brought in Germany and ultimately referred to the ECJ. The opinion given by the advocate-general is that patent claims involving the use of human embryonic stem cells should not be allowed. The ECJ is due to decide over the coming months whether to uphold this legal opinion in their ruling on the case.
ReNeuron wishes to confirm that it does not utilise human embryonic stem cells in its own research and development programmes and has no plans to do so. Consequently, ReNeuron’s technologies, development programmes and its extensive patent estate would be unaffected by any prohibition on the patenting of human embryonic stem cells in Europe.
Michael Hunt, Chief Executive Officer of ReNeuron, said:
“Whilst we support research on all stem cell types conducted under appropriate regulatory frameworks, we have always believed that the particular technologies and cell types ReNeuron works with will stand the Company in good stead in its development of patent-protected stem cell therapeutics addressing major unmet medical needs such as stroke disability.”
Michael Hunt, Chief Executive Officer – ReNeuron +44 (0) 1483 302560
Dr John Sinden, Chief Scientific Officer – ReNeuron
Lisa Baderoon, Mark Court, Isabel Podda +44 (0) 20 7466 5000
Antony Legge, Oliver Rigby +44 (0) 20 7776 6550
Daniel Stewart & Company plc
James Gallagher, Tim Graham +44 (0) 20 3206 7000
Matrix Corporate Capital LLP
ReNeuron is a leading, clinical-stage stem cell business. Its primary objective is the development of novel stem cell 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. ReNeuron’s lead candidate is its ReN001 stem cell therapy for the treatment of patients left disabled by the effects of a stroke. This therapy is currently in early clinical development. ReNeuron’s ReN009 stem cell therapy is being developed as a treatment for peripheral arterial disease, a serious and common side-effect of diabetes. The Company is also developing stem cell therapies for other conditions such as blindness-causing diseases of the retina.
ReNeuron has also developed a range of stem cell lines for non-therapeutic applications – its ReNcell® products for use in academic and commercial research. The Company’s ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by USA-based 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.
This announcement contains forward-looking statements with respect to the financial condition, results of operations and business achievements/performance of ReNeuron and certain of the plans and objectives of management of ReNeuron with respect thereto. These statements may generally, but not always, be identified by the use of words such as “should”, “expects”, “estimates”, “believes” or similar expressions. This announcement also contains forward-looking statements attributed to certain third parties relating to their estimates regarding the growth of markets and demand for products. By their nature, forward-looking statements involve risk and uncertainty because they reflect ReNeuron’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors could cause ReNeuron’s actual financial condition, results of operations and business achievements/performance to differ materially from the estimates made or implied in such forward-looking statements and, accordingly, reliance should not be placed on such statements.