Stem cell research expert ReNeuron (LON:RENE) is preparing itself for three years of progress.
Speaking at the company’s annual general meeting (AGM), Olav Hellebø, chief executive, said: “Our business has made great strides over the past year and we are now funded to deliver key clinical milestones across all of our therapeutic programmes over the next three years.”
Last month, the company confirmed it raised £68.4mln in a share issue, with lauded fund manager Neil Woodford was among the investors backing the company through the placing.
The funds will be used to drive ReNeuron’s existing therapeutic programmes through to 2019.
Those programmes include its CTX stem cell therapy candidate for disability caused by ischaemic stroke, currently in phase II clinical trials with data expected in the first half of 2016.
“Subject to an overall assessment of the collective data from the Phase I and Phase II studies, we are planning to submit an application to commence a controlled, pivotal Phase II/III clinical trial in chronically disabled stroke patients,” the company said.
The firm’s CTX cell therapy candidate for critical limb ischaemia is in phase I trials with data also expected next year, while its hRPC stem cell therapy candidate for retinitis pigmentosa has just gained regulatory approval in the US, with first patient dosing expected before the end of the year.