Guildford, UK, 22 March 2010: ReNeuron Group plc (LSE: RENE.L) is pleased to learn that it has been cited as a UK-based world leader in regenerative medicine in a new publication by the UK Government. The “Best of British” publication, produced by the Department for Business Innovation and Skills (BIS), showcases in a series of sector case studies the business sectors in which the UK leads on innovation, enterprise and technology. These are the sectors from which future UK economic growth and jobs are expected to be generated and include life sciences, digital communications and renewable energy, among others.
Within life sciences, the case study refers to the importance of regenerative medicine and the UK’s pre-eminence in this field, giving the example of ReNeuron and its recently approved first-in-man clinical trial in the UK with ReN001, the Company’s stem cell therapy for disabled stroke patients. This trial, the world’s first of its kind using expanded neural stem cells in this indication, is due to commence shortly and will be conducted through the NHS system at a leading stroke treatment centre in Glasgow, Scotland.
The “Best of British” publication forms part of an update given by the Government regarding its strategy to support the development of key new industries in the UK. The publication is available on the BIS website at www.bis.gov.uk.
Michael Hunt, Chief Executive Officer of ReNeuron, said: “We are delighted to learn that the potential of our ground-breaking stem cell programmes has been recognised by the UK Government in this way. We are proud to be pioneering the translation of exciting stem cell science into clinical-stage therapeutics as a UK-based business, in collaboration with a number of leading UK academic institutions, hospitals and commercial organisations.”
About ReNeuron
ReNeuron is a leading, UK-based stem cell business. Its primary objective is the development of stem cell therapies targeting areas of significant unmet or poorly met medical need.
ReNeuron has regulatory approval for a Phase I clinical trial in the UK with its lead ReN001 stem cell therapy for disabled stroke patients. Patient recruitment for this trial is expected to commence shortly. The Company is also developing stem cell therapies for a number of other conditions, including peripheral arterial disease and 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.
