ReNeuron Group plc Awarded major UK cell therapy manufacturing grant (7818E)
11 May 2017 - 4:00PM
UK Regulatory
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 +44 (0)20 3819 8400
Olav Hellebø, Chief Executive Officer
Michael Hunt, Chief Financial Officer
Buchanan +44 (0) 20 7466 5000
Mark Court, Sophie Cowles, Stephanie Watson
Stifel Nicolaus Europe Limited +44 (0) 20 7710 7600
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
END
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