Guildford, UK, 20 July 2011: ReNeuron announces that it is strengthening its Board by the appointments of
ReNeuron further announces that Bryan Morton, a non-executive director since 2008, is to become Chairman, effective from 1st August. Professor Trevor Jones will step down as Chairman at that time and will establish and chair a Scientific and Strategic Advisory Group to advise and assist the Company on strategic matters relating to its scientific and commercial agenda: in particular, the future direction of stem cell and cell replacement therapy, links to academic and industrial organisations and relationships with government bodies, the media and the public, both in the UK and internationally. A further announcement regarding appointments to the Advisory Group will be made in due course. Professor Jones will remain a non-executive director of the Company pending the establishment of the Advisory Group.
Simon Cartmell (age 51) was, until June 2010, Chief Executive Officer of ApaTech Ltd, which he built into a world leader in orthobiologics. Its sale to Baxter International Inc for $330 million was completed in March 2010. Prior to ApaTech he was CEO of Celltech Pharmceuticals and a director of Celltech Group plc. Before that, he was Chief Operating Officer of Vanguard Medica plc. His early career was spent at Glaxo plc in multiple senior
Simon is a Medical Microbiology graduate from
Professor Trevor Jones, Chairman of ReNeuron, said:
“I am delighted to welcome two further highly experienced and commercially-focused directors to the Board at this important stage in ReNeuron’s development. I am also delighted to be continuing my involvement with the Company as Chairman of its Scientific and Strategic Advisory Group and I welcome Bryan Morton to the Chairmanship of the Company as the business moves towards realisation of the clinical and commercial potential of its technologies and therapies.”
Bryan Morton further commented:
“I am delighted to be taking on the Chairmanship of ReNeuron at this exciting time in the Company’s development and, on behalf of the Board, I would like to thank Trevor Jones for his consummate leadership of the business since its inception. He will be a tough act to follow and I am delighted that the Company will continue to benefit from Trevor’s wisdom, experience and extensive contacts as Chairman of our new Scientific and Strategic Advisory Group.
The appointments of
In addition to his directorship of the Company,
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Simon Cartmell |
Simon Cartmell |
There are no other matters to disclose pursuant to Schedule Two (g) of the AIM Rules in respect of Mr Berriman and Mr Cartmell.
Enquiries:
Dr
Lisa Baderoon,
, Isabel Podda +44 (0) 20 7466 5000
Buchanan Communications
Daniel Stewart & Company plc (Nomad and Joint Broker)
James Gallagher, Steve Waterman +44 (0) 20 3206 7000
Matrix Corporate Capital LLP (Joint Broker)
About ReNeuron
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 clinical development. The Company is also developing stem cell therapies for other conditions such as peripheral arterial disease, a serious and common side-effect of diabetes, and 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 Merck Millipore.
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.