ReNeuron Group PLC (AIM:RENE, OTC:RNUGF) has said its cash runway now extends into 2024 after a restructuring cut headcount by 40% and lowered overall variable costs.
All resources are now being directed towards generating in vivo data and validating the company's exosome delivery technology platform CustomEX, the company noted.
CustomEX is a platform that can be optimised for specific tissue targets and payloads to improve therapeutic outcomes and reduce off-target effects.
In a statement, Iain Ross, ReNeuron executive chairman, commented: "Strategically, the goal is to achieve the commercial validation of our CustomEX delivery platform and in order to do this we will generate in vivo data aimed at clearly differentiating our platform from that of our competitors."
“We aim to demonstrate the effective uptake, biodistribution and functionality of cargo delivered by CustomEX. In addition, We plan to discontinue, out-license and/or dispose of all the company's legacy assets," he added.