Shares in ReNeuron Group PLC (LON:RENE) surged by a fifth after reporting “early efficacy signals from its cell-based treatment for sufferers of a disease that can cause blindness.
Researchers in the US are currently carrying out a Phase I/II clinical trial on people with retinitis pigmentosa.
The first three patients in a group taking part in the Phase II portion of the study were able on average to read an additional three lines on the standard ETDRS eye chart after receiving treatment, ReNeuron reported.
Doctors used human retinal progenitor cells (hRPC) developed by the AIM-listed life sciences company.
Pre-clinical studies have shown they have the potential to preserve existing photoreceptors found in the retina, which could reduce or halt further deterioration of vision.
In addition, these progenitor cells have been shown to mature into functional photoreceptors that could then help restore sight.
“We are very, very encouraged by what we are seeing so far in this study,” said ReNeuron chief financial officer Michael Hunt in an interview with Proactive.
“To see a very strong reaction or signal in every patient treated so far was very surprising to us. We weren’t expecting to see that level of response in every patient at this point in the study.”
The shares rose 9.9p to 57.4p as the market welcomed the news.
Short term, the company will continue with the efficacy study to replicate the findings in more patients, Hunt said, which will lead to a Phase IIb study later this year.
Looking ahead
It will speak to the US regulator – the Food & Drug Administration – before embarking on a more formal controlled trial.
It is worth noting that retinitis pigmentosa is a rare, or orphan disease, which means any new therapy may receive certain incentives and preferential treatment. ReNeuron’s breakthrough has been given fast-track designation by the FDA.
The company, which is also using its stem cell lines to treat stroke victims, is currently in talks with potential commercial partners for its hRPC line.
Hunt admitted the latest results “give us a leg up”.
“In terms of our ongoing discussions with potential partners if we can demonstrate some level of efficacy signal, albeit early stage, that is only going to help our discussions,” he added.