ReNeuron Group PLC (AIM:RENE, OTC:RNUGF), the stem cell group placed into administration in March, said it is exploring an equity fundraiser to recapitalise the business.
In an update, it was stressed that this was just one potential option being mulled alongside the possible sale of its subsidiary, or piecemeal asset disposal.
The joint administrators, working with ReNeuron's board, have developed a revised business plan aimed at continuing the development of its exosome platform at a reduced cost. To facilitate this, redundancies have been made.
Key senior management members, including chairman Iain Ross and chief scientific officer Randolph Corteling, remain to support the process.