Wins UK grant to advance its exosome platform

RNS Number : 3704L

ReNeuron Group plc

11 January 2016

 

 

11 January 2016

AIM: RENE

ReNeuron Group plc

 ReNeuron wins major UK grant to advance its exosome nanomedicine platform

 

Guildford, UK, 11 January 2016: 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 £2.1 million grant from Innovate UK to further advance its emerging exosome nanomedicine platform.

The grant, entitled "Stem cell-derived exosomes for regenerative medicine", has been awarded under Innovate UK's Developing Regenerative Medicine & Cell Therapies" 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 Therapy Catapult and the Department of Biochemical Engineering at University College London. 

The grant will fund key pre-clinical development work packages relating to ReNeuron's exosome nanomedicine platform.  These include the development of robust manufacturing systems utilising scalable bioreactors and purification technologies that will enable the production of ReNeuron's exosomes at a commercial scale.  The work programme also includes product characterisation and potency assay development as well as pre-clinical efficacy and toxicity testing of the selected exosome nanomedicine candidate.

ReNeuron is exploiting the therapeutic potential of exosomes derived from its proprietary stem cell lines.  The Company is also exploring the potential of its exosomes as a delivery system for gene therapy treatments.  Exosomes are lipid-based nanoparticles secreted from all cells and which are believed to play a key role in the transfer of beneficial proteins and particularly non-coding RNAs from one cell to another.  ReNeuron's researchers have identified a novel mechanism by which exosomes from its clinical-grade CTX stem cells may inhibit the growth and migration of cancer cells in pre-clinical models of the disease.  ReNeuron has filed multiple patent applications covering the composition, manufacture and therapeutic use of its exosome nanomedicine platform and the Company is continuing to investigate the mechanism of action and utility of its exosome nanomedicine platform in a range of potential cancer indications.    

Commenting on the grant award, Olav Hellebø, Chief Executive Officer of ReNeuron, said:

"ReNeuron is a global leader in the exciting new field of exosome therapeutics and we are therefore delighted to have won this prestigious grant from Innovate UK.  The grant application process was highly competitive and subjected our exosome nanomedicine programme to expert technical peer review.  As a result, the award of the grant represents a strong endorsement of the potential of this emerging advanced therapy platform and will enable us to rapidly progress its development towards initial clinical application."

Enquiries:

ReNeuron	[phone]
Olav Hellebø , Chief Executive Officer
Michael Hunt, Chief Financial Officer
Buchanan	[phone]
Mark Court, Sophie Cowles, Stephanie Watson
Cenkos Securities	[phone]
Stephen Keys, Dr Christopher Golden (NOMAD and Broker)
Russell Kerr (Sales)

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 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. 

 

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