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ReNeuron jumps as it agrees research deal with unnamed “major pharmaceutical company” to develop emerging cell technology

The focus will be on ReNeuron's exosome technology

ReNeuron Group PLC -
In very simple layman’s terms, exosomes are used by cells to communicate and are released as tiny “nano-bubbles” into the body to do so

ReNeuron Group PLC (LON:RENE) shares jumped 12% higher on Tuesday after the firm revealed it has signed a research agreement with an unnamed “major pharmaceutical company” to develop the former’s exosome technology.

In very simple layman’s terms, exosomes are used by cells to communicate and are released as tiny “nano-bubbles” into the body to do so. The AIM-listed stem cell specialist has created its own line to deliver a drug payload.

WATCH: Exosomes explained 

Derived from the research group’s CTX neural stem cell line, the exosomes will carry gene silencing sequences developed by the pharma company.

ReNeuron, which has is currently developing cell-based treatments for stroke victims and people with a severe eye disease, will be responsible for manufacturing exosomes and then loading them with the gene silencing sequences.

It will be paid by the pharmaceutical company for manufacturing and loading the exosomes in the initial phase of the tie-up.

“The collaboration is in line with our strategy of collaborating and then out-licensing our proprietary exosome technology as a novel delivery vector and underlines the potential commercial value of these proprietary nanoparticles generated from our CTX neural stem cell line," said chief executive Olav Hellebø in a statement.

Last week, ReNeuron said it was assessing the potential of the emerging cell technology to help in the fight against the coronavirus (COVID-19).

In morning trade on Tuesday, ReNeuron shares rose 12.4% to 122.50p.

 -- Adds share price --

Quick facts: ReNeuron Group PLC

Price: 135 GBX

LSE:RENE
Market: LSE
Market Cap: £42.98 m
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