ReNeuron Group plc Awarded major UK cell therapy manufacturing grant (7818E)

TIDMRENE

RNS Number : 7818E

ReNeuron Group plc

11 May 2017

 
 AIM: RENE     11 May 
                2017 
 

ReNeuron Group plc

ReNeuron awarded major UK cell therapy manufacturing grant

ReNeuron Group plc (the "Company") (AIM: RENE), a leading UK-based stem cell therapy development company, is pleased to announce that it has been awarded a GBP1.8 million grant from Innovate UK to further advance its next generation commercial cell therapy manufacturing capabilities.

The grant, entitled "Cell2Sell - commercial scale next generation platform for allogeneic stem cell production", has been awarded under Innovate UK's Cell & Gene Therapies Industrial Manufacture grant scheme and will fund a collaborative programme of work to be undertaken by ReNeuron, as lead participant, and its collaborators on the grant, the Cell & Gene Therapy Catapult.

The grant will fund key process development activities relating to up-scaled commercial manufacture of ReNeuron's cell therapy candidates. These include the development of robust manufacturing processes utilising next generation technology and techniques that will enable the production of ReNeuron's therapeutic candidates at a commercial scale.

Commenting on the funding selection, Sharon Grimster, General Manager, Wales, at ReNeuron, said:

"We are delighted to have won this prestigious and highly competitive grant from Innovate UK. It enables us to further pursue and optimise our cell therapy manufacturing processes as our therapeutic programmes get closer to market. The grant award will also assist ReNeuron in the execution of its strategy to ultimately bring the manufacture of its cell therapy candidates in-house to meet demand following market approval."

ENQUIRIES:

 
ReNeuron                                         [phone] 
Olav Hellebø, Chief Executive Officer 
Michael Hunt, Chief Financial Officer 
Buchanan                                         [phone] 
Mark Court, Sophie Cowles, Stephanie Watson 
 
Stifel Nicolaus Europe Limited                   [phone] 
Jonathan Senior, Stewart Wallace, Ben Maddison 
 (NOMAD and Broker) 
 

About Innovate UK

Innovate UK works with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy - delivering productivity, new jobs and exports. Our aim at Innovate UK - the government's innovation agency - is to keep the UK globally competitive in the race for future prosperity.

For further information, please visit

www.gov.uk/government/organisations/innovate-uk.

About ReNeuron

ReNeuron is a leading, clinical-stage cell therapy development company. Based in the UK, its primary objective is the development of novel cell-based 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. The Company has therapeutic candidates in clinical development for motor disability as a result of stroke, for critical limb ischaemia and for the blindness-causing disease, retinitis pigmentosa.

ReNeuron is also advancing its proprietary exosome technology platform as a potential new nanomedicine targeting cancer and as a potential delivery system for gene therapy treatments.

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 information is provided by RNS

The company news service from the London Stock Exchange

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May 11, 2017 02:00 ET (06:00 GMT)