Guildford, UK, 5 July 2011: ReNeuron announces that it has signed a new contract with Angel Biotechnology for development and GMP (Good Manufacturing Practice) manufacturing services in support of its development programme for its ReN001 stem cell therapy for stroke.

The work programme is expected to continue through to mid-2012 and includes the GMP manufacture and related work for future cohorts of patients in ReNeuron’s ongoing PISCES clinical trial with ReN001 in stroke. The contract is structured in such a way that it allows much more flexibility for both parties in terms of work scheduling, thereby giving ReNeuron the ability to match the needs and opportunities of its growing development programmes in real time.

Michael Hunt, Chief Executive Officer of ReNeuron, said:

“We are pleased to be extending our contract manufacturing arrangements with Angel by way of this new contract. Critically, the new contract provides ReNeuron with guaranteed GMP manufacturing and non-GMP development slots over an extended period, allowing for more efficient and flexible planning and thereby further de-risking our out-sourced manufacturing model for our ReN001 stem cell product for stroke. “

Gordon Sherriff, Chief Operating Officer of Angel Biotechnology Holdings plc, said:

“Angel is delighted that ReNeuron has chosen to further strengthen our companies’ working relationship by entering into a longer term contract allowing the parallel development and GMP production of its primary products. We are very pleased that ReNeuron’s PISCES clinical trial in stroke is proceeding well and look forward to continuing to provide our highest quality manufacturing support for this clinical trial.”