ReNeuron Group (LON:RENE) has been awarded a £2.1mln grant by a government agency to fund further research into using stem cells for regenerative medicine.
The AIM listed biotech is already a world leader in the field and is currently using stems cells to treat stroke patients.
The funding from Innovate UK teams ReNeuron with the Cell Therapy Catapult, based at Guys and St Thomas’s hospitals, and the Department of Biochemical Engineering at University College London.
The grant will be used for a project entitled “stem cell-derived exosomes for regenerative medicine”.
Chief executive Olav Hellebø 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."