logo-loader
viewReNeuron Group PLC

ReNeuron Group plc - COVID-19 Update

RNS Number : 6641I
ReNeuron Group plc
03 April 2020
 

 

03 April 2020

   AIM: RENE

 

ReNeuron Group plc

("ReNeuron" or the "Company")

COVID-19 update   

ReNeuron Group plc (AIM: RENE), a global leader in the development of cell-based therapeutics, provides the following update in light of the COVID-19 pandemic and the effect on the Company of UK and US government measures to contain the spread of the disease.

 

The safety of employees, suppliers, clinical trial participants and all other people with whom the Company interacts is of over-riding importance to the Company.  The Company is complying with governmental advice and requirements across its operations in the UK and US, with the majority of employees able to continue working from home with minimal disruption to the Company's day-to-day operations.   In order to allow laboratory-based staff to conduct essential work safely, a rota system has been put in place to minimise staff contact without compromising research protocols or health and safety standards in the laboratories.

 

The Company's priority internal research projects are continuing to progress to current timelines. Consumables and reagents are still widely available and the Company's own consumable inventories are such that all current internal research activities can continue without being significantly impacted. 

 

Following the outbreak of the COVID-19 pandemic, the Company has initiated a research programme focused on the potential utility of its proprietary exosomes as a delivery vehicle for viral vaccines.  Previously presented, unpublished data show that ReNeuron's exosomes can be loaded with biologically active cargo and delivered preferentially to certain specific sites in the body.  This research is in its initial stages, the goal being to establish whether an increase in the potency of SARS-CoV-2 coronavirus vaccines in development can be enhanced in this way, utilising ReNeuron's established expertise in exosome isolation, modification and manufacture at scale.

Government measures to contain the spread of the coronavirus are having an increasing effect on most clinical studies, including in the US, where the Company is running two clinical trials with its therapeutic candidates for stroke disability and retinitis pigmentosa.  As a consequence, these clinical studies will be subject to some delays in patient recruitment and the Company will provide further guidance regarding the timing of availability of top-line data from the studies in due course.  Patients already treated continue to be followed up in both studies, on a remote basis where this is necessary in order to ensure patient safety.

ReNeuron's exclusive licensing partner in China, Shanghai Fosun Pharmaceutical Industrial Development Co., Ltd. ("Fosun Pharma"), continues to pursue development of the Company's CTX cell therapy candidate for stroke disability in the licensed territory (Greater China including Hong Kong, Macao and Taiwan).  Clinical trial applications have recently been filed to open clinical sites in the licensed territory for the Company's ongoing PISCES III clinical trial in stroke disability.

The Company will continue to monitor the impact of COVID-19 on its business, taking further action where necessary and announcing further updates as appropriate.

 

                                                                        ENDS

 

Contacts:

 

ReNeuron

 

 

+44 (0) 20 3819 8400

Olav Hellebø, Chief Executive Officer

Michael Hunt, Chief Financial Officer

 

Buchanan (UK Media/Investor Relations)

 

+44 (0) 20 7466 5000

Mark Court, Tilly Abraham

 

Argot Partners (US Media/Investor Relations)

Claudia Styslinger, David Rosen

 

+1 212 600 1902

 

 

Stifel Nicolaus Europe Limited (NOMAD and Joint Broker)

Jonathan Senior, Stewart Wallace, Ben Maddison

+44 (0) 20 7710 7600

 

 

N+1 Singer (Joint Broker)

Aubrey Powell, James Moat, Tom Salvesen

 

+44 (0) 20 7496 3000

 

 

 

About ReNeuron

ReNeuron is a global leader in cell-based therapeutics, harnessing its unique stem cell technologies to develop 'off the shelf' stem cell treatments, without the need for immunosuppressive drugs.  The Company's lead clinical-stage candidates are in development for the blindness-causing disease, retinitis pigmentosa, and for disability as a result of stroke.  ReNeuron is also advancing its proprietary exosome technology platform as a potential delivery system for drugs that would otherwise be unable to reach their site of action.  ReNeuron's shares are traded on the London AIM market under the symbol RENE.L.  For further information visit www.reneuron.com.

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
UPDFFFEISIIFIII

Quick facts: ReNeuron Group PLC

Price: 142.5

Market: LSE
Market Cap: £45.36 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: FTSE 100 posts early losses sparked by rising US coronavirus...

Headlines from the Proactive UK newsroom. FTSE100 posted early losses sparked by rising US coronavirus infections and China’s trade row with the US. The blue-chip index shed 10 points to 6,112. Royal Mail PLC (LON:RMG) is to axe 2,000 jobs or more than 20% of its managerial staff as part...

1 week, 4 days ago