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(RENE.L) ReNeuron Group PLC Buy/Sell
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| 03-03-10 | AFX UK Focus |
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LONDON, March 3 (Reuters) - ReNeuron Group Plc:
peripheral arterial disease (PAD) in diabetes ((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 03-03-10 | RNS |
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RNS Number : 9838H ReNeuron Group plc 03 March 2010 PRESS RELEASE ReNeuron presents key pre-clinical efficacy data with ReN009 stem cell therapy at leading UK diabetes conference Break-through in the potential restorative treatment of peripheral arterial disease in diabetic patients Guildford, UK, 3 March 2010: ReNeuron Group plc (LSE: RENE.L) today announces further positive pre-clinical efficacy data with its ReN009 stem cell therapy for peripheral arterial disease (PAD) in diabetic patients. PAD is a chronic and debilitating disease that progressively restricts blood flow in the limbs, causing cramping, chronic pain and in extreme cases, amputation. PAD is commonly associated with other conditions, including diabetes, obesity and stroke. At least 1 in 20 people over the age of 55 have some degree of PAD and it becomes more common with increasing age. The research was conducted in collaboration with Professor Paolo Madeddu, Dr Rajesh Katare and colleagues at the Bristol Heart Institute, University of Bristol, UK, and builds on earlier successful pre-clinical efficacy studies with ReN009 conducted by that group. In this latest study, researchers tested the newly-developed freeze-thaw formulation of ReNeuron's CTX stem cell line, via intramuscular injection, in a recognised diabetic mouse model of hind limb ischaemia. The CTX cell line forms the basis of ReNeuron's ReN009 therapy for PAD as well as its ReN001 therapy for stroke. Initial clinical trials with ReN001 are due to commence in the UK shortly, following final regulatory approval received last month. The results of the new ReN009 study initially showed that the diabetic mice had reduced blood flow capacity compared to the non-diabetic control mice. When treated with the ReN009 cells, the diabetic mice exhibited a significant and dose-dependent recovery of blood flow to the ischaemic limb, with significantly increased re-vascularisation of the damaged tissue as measured by increased capillary and arteriole density. These results are being presented by poster at the Diabetes UK Annual Professional Conference in Liverpool, UK, running from 3-5 March. Further details of this conference may be found at www.diabetes.org.uk/apc. ReNeuron is developing its ReN009 therapy as an allogeneic (non-patient specific) stem cell treatment for late-stage PAD, or critical limb ischaemia, in diabetic patients for whom PAD is a side-effect of their diabetes. PAD in diabetics is severe and progresses rapidly. Vascular surgery often has a poor outcome in these patients and in severe cases, amputation is the only clinical option available. ReNeuron's ReN009 therapy offers the potential to re-build the vasculature in the affected limb, thus restoring blood flow and avoiding the need for amputation in diabetic patients with critical limb ischaemia. ReNeuron has discussed its late pre-clinical development plan for ReN009 with the UK regulatory authorities. The Company will work with its newly-established Clinical Advisory Board for ReN009 and will take further meetings with UK, European and US regulators over the course of this year, ahead of applications to commence initial clinical trials planned for next year. Commenting on the results of the study, Professor Madeddu said: "In this latest study, it is clear that ReNeuron's CTX stem cells significantly improved clinically relevant aspects of hind limb ischaemia in a diabetic mouse model in a dose-dependent manner. Taken together with the earlier studies we have performed with this cell line, we see real clinical potential in this cell line in ischaemic conditions such as peripheral arterial disease, where the angiogenic properties of the cell line appear to play a significant role in restoring blood flow in the affected region." Dr John Sinden, Chief Scientific Officer of ReNeuron, said: "We are very excited to have made this important pre-clinical breakthrough in demonstrating the clear potential of our CTX stem cell line to alleviate and even reverse the effects of lower limb ischaemia in diabetics. With our ReN009 therapy, which utilises our recently-developed freeze-thaw formulation of the CTX cell line, we are now well-placed to take a leading position in the development of a fully scalable, storable and readily administered cell-based therapeutic for diabetics suffering from peripheral arterial disease, a condition poorly served by existing treatments. We look forward to reporting further progress with ReN009 as we move towards clinical trial applications next year." Enquiries:
Dr John Sinden, Chief Scientific Officer ReNeuron Group plc
Financial Dynamics
Daniel Stewart & Company plc
Matrix Corporate Capital LLP About the Bristol Heart Institute and the University of Bristol The Bristol Heart Institute is made up of over 200 researchers and clinicians, from eight different departments in the University of Bristol, spanning three faculties, and from associated Bristol NHS Trusts. Research income is generated from grants, with the British Heart Foundation being the Institute's main funder. As well as improving collaboration between scientists and clinicians within the Institute, the aim is to communicate research findings to the public. Further information on research at the Bristol Heart Institute can be found at www.bris.ac.uk/bhi. The University of Bristol is consistently ranked among the leaders in UK higher education. According to The Times, it is among the top 40 universities in the world. Research-intensive and with an international reputation for quality and innovation, the University has 15,000 students from over 100 countries, together with more than 5,500 staff. In terms of the number of applications per undergraduate place, Bristol is arguably the most popular university in the country. The University was founded in 1876 and was granted its Royal Charter in 1909. It was the first university in England to admit women on the same basis as men. It is located in the heart of the city from which it grew, but is now a significant player on the world stage as well as a major force in the economic, social and cultural life of Bristol and South West England. The overall quality of the University's teaching emerged as 'excellent' from the rigorous, independent assessment process. Its record as a research institution is at least as distinguished, with 78 per cent of its departments judged as world class or internationally excellent. The University is also recognised as a leading centre for the exploitation of knowledge through partnership with industry and the creation of spinout companies. Bristol is a member of the Worldwide Universities Network and of the Russell Group of major, research-intensive universities in the UK. About ReNeuron ReNeuron is a leading, UK-based stem cell business. Its primary objective is the development of stem cell therapies targeting areas of significant unmet or poorly met medical need. ReNeuron has regulatory approval for a Phase I clinical trial in the UK with its lead ReN001 stem cell therapy for disabled stroke patients. Patient recruitment for this trial will commence shortly. The Company is also developing stem cell therapies for a number of other conditions, including peripheral arterial disease and diseases of the retina. ReNeuron has also developed a range of stem cell lines for non-therapeutic applications - its ReNcell®products for use in academic and commercial research. The Company's ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by USA-based Millipore Corporation. ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com. This announcement contains forward-looking statements with respect to the financial condition, results of operations and business achievements/performance of ReNeuron and certain of the plans and objectives of management of ReNeuron with respect thereto. These statements may generally, but not always, be identified by the use of words such as "should", "expects", "estimates", "believes" or similar expressions. This announcement also contains forward-looking statements attributed to certain third parties relating to their estimates regarding the growth of markets and demand for products. By their nature, forward-looking statements involve risk and uncertainty because they reflect ReNeuron's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors could cause ReNeuron's actual financial condition, results of operations and business achievements/performance to differ materially from the estimates made or implied in such forward-looking statements and, accordingly, reliance should not be placed on such statements. This information is provided by RNS The company news service from the London Stock Exchange END
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| 22-02-10 | RNS |
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RNS Number : 4487H ReNeuron Group plc 22 February 2010
PRESS RELEASE ReNeuron announces fundraising Guildford, UK, 22 February 2010: ReNeuron Group plc (LSE: RENE.L) today announces that it has raised approximately £4.7 million, before expenses, from existing and new institutional and qualifying individual shareholders via a placing (the "Placing") of 94,400,000 new ordinary shares of 1 pence each ("Ordinary Shares") credited as fully paid up, at a price of 5 pence per Ordinary Share (the "Placing Shares"). The Placing is conditional, inter alia, on shareholder approval through the passing of certain resolutions. A circular convening a General Meeting on 12 March 2010 (the "General Meeting") will be posted to shareholders. At the General Meeting, shareholder approval will be sought, inter alia, for the allotment and issue of the Placing Shares as part of the Placing. To enable certain placees to take advantage of Venture Capital Trust and Enterprise Investment Scheme tax treatment, it is proposed that the Placing shall comprise two closings. The first closing for 16,800,000 of the Placing Shares is expected to occur on 18 March 2010 and the second closing for 77,600,000 of the Placing Shares is expected to occur on 19 March 2010. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that admission will become effective and dealings will commence at 8.00 am on 18 March 2010 (for the Placing Shares the subject of the first closing) and 8.00 am on 19 March 2010 (for the Placing Shares the subject of the second closing). The net proceeds of the Placing will, in the opinion of the Directors, provide the Company with sufficient working capital to satisfy its requirements for at least the next 12 months. The net proceeds of the Placing will be directed towards the Phase I trial of the Company's ReN001 stem cell therapy for disabled stroke patients; late pre-clinical testing of the Company's ReN009 therapy for peripheral arterial disease and optimisation and scale-up of the Company's second-generation CTX stem cell line, in addition to providing finance for the Company's other therapeutic programmes and for general working capital purposes. Details of the Placing The Placing is being conducted on behalf of the Company by Daniel Stewart & Company plc and Matrix Corporate Capital LLP ("Matrix") (together the "Placing Agents") pursuant to the terms of a placing agreement (the "Placing Agreement"). Pursuant to the Placing Agreement, the Placing Agents have procured subscribers for 94,400,000 Ordinary Shares, in aggregate, at a price of 5 pence per Ordinary Share. The Placing Agreement contains warranties in favour of the Placing Agents given by the Company with respect to its business and certain matters connected with the Placing. In addition, the Company has given customary indemnities to the Placing Agents in connection with the Placing and their performance of services in relation to the Placing. The Placing Agents have certain rights to terminate the Placing Agreement in specified circumstances, save that the Placing Agreement may not be terminated by the Placing Agents following the first closing. Subject to the successful completion of the Placing, the Company and Matrix have agreed that the Company will suspend the existing Flexible Use Small Capital Increase Agreement ("FUSCIA") until the earlier of: (i) receipt of notification by the Company from Matrix that a drawdown under the FUSCIA may be undertaken; and (ii) 18 August 2010. Details of the General Meeting The General Meeting will be held at the offices of Morrison & Foerster, 7th Floor, CityPoint, One Ropemaker Street, London EC2Y 9AW, at 10.00 a.m. on 12 March 2010. A form of proxy for use at the General Meeting will be enclosed with the circular sent to shareholders. The form of proxy should be completed and returned to the Company's registrars, Computershare Investor Services PLC, The Pavilions, Bridgwater Road, Bristol BS99 6ZY, in accordance with the instructions printed on it as soon as possible and, in any event, so as to be received no later than 10.00 a.m. on 10 March 2009. Completion and return of a form of proxy will not preclude shareholders from attending and voting in person at the General Meeting should they so wish. The authorities to be sought at the General Meeting are additional to the existing authorities conferred on the Directors at the Company's Annual General Meeting held on 17 September 2009. The Directors consider the Placing to be in the best interests of the Company and its shareholders as a whole and accordingly unanimously recommend that shareholders vote in favour of the resolutions to be proposed at the General Meeting. Enquiries
Michael Hunt, Chief Executive Officer
Jonathan Birt, Susan Quigley
Simon Leathers, Emma Earl
Alastair Stratton, Steve Quinn
About ReNeuron ReNeuron is a leading, UK-based stem cell company. Its primary objective is the development of stem cell therapies targeting areas of significant unmet or poorly met medical need. ReNeuron has regulatory approval for a Phase I clinical trial in the UK with its lead ReN001 stem cell therapy for disabled stroke patients. Patient recruitment for this trial will commence shortly. The Company is also developing stem cell therapies for a number of other conditions, including peripheral arterial disease and diseases of the retina. ReNeuron has also developed a range of stem cell lines for non-therapeutic applications - its ReNcell®products for use in academic and commercial research. The Company's ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by USA-based Millipore Corporation. ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com. The distribution of this announcement into jurisdictions other than the United Kingdom may be restricted by law and, therefore, persons into whose possession these documents come should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws or regulations of any such jurisdiction. In particular, such documents should not be distributed, forwarded or transmitted in or into the United States, Canada, Australia, The Republic of Ireland or Japan or into any other jurisdiction where to do so would or might constitute a violation of local applicable laws or regulations. This announcement is for information purposes only and does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in any jurisdiction and should not be relied upon in connection with any decision to subscribe for or acquire any of the Ordinary Shares. In particular, this announcement does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the United States. The Ordinary Shares have not been and will not be registered under the US Securities Act 1933 (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and, accordingly, may not be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, within the United States except in reliance on an exemption from, or in a transaction subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offer of the Ordinary Shares in the United States. The Ordinary Shares are being offered and sold only outside the United States in offshore transactions in accordance with Regulation S under the Securities Act. The Ordinary Shares have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission in the United States or any other US regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering of the Ordinary Shares or the accuracy or adequacy of the this announcement. Any representation to the contrary is a criminal offence in the United States. This announcement contains forward-looking statements with respect to the financial condition, results of operations and business achievements/performance of ReNeuron and certain of the plans and objectives of management of ReNeuron with respect thereto. These statements may generally, but not always, be identified by the use of words such as "should", "expects", "estimates", "believes" or similar expressions. This announcement also contains forward-looking statements attributed to certain third parties relating to their estimates regarding the growth of markets and demand for products. By their nature, forward-looking statements involve risk and uncertainty because they reflect ReNeuron's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors could cause ReNeuron's actual financial condition, results of operations and business achievements/performance to differ materially from the estimates made or implied in such forward-looking statements and, accordingly, reliance should not be placed on such statements. The Placing Agents are each authorised and regulated by the Financial Services Authority, and are each acting for the Company and for no-one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to their respective customers or for affording advice in relation to the matters referred to herein. This announcement has been issued by, and is the sole responsibility of, the Company. Neither of the Placing Agents accepts any liability whatsoever for the accuracy or opinions contained in this announcement (or for the omission of any material information) and neither of the Placing Agents shall be responsible for the contents of this announcement. This announcement and the information contained in it is not for release, publication or distribution, directly or indirectly, in whole or in part, in, into or within the United States, Canada, Australia, the Republic of South Africa or Japan and should not be distributed in, forwarded to or transmitted into any jurisdiction where to do so would or might constitute a violation of local applicable laws or regulations. This information is provided by RNS The company news service from the London Stock Exchange END
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| 18-02-10 | RNS |
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RNS Number : 3142H ReNeuron Group plc 18 February 2010 PRESS RELEASE ReNeuron and Schepens Eye Research Institute receive unrestricted industrial grant to support US retinal stem cell collaboration Guildford, UK, 18 February 2010: ReNeuron Group plc (LSE: RENE.L) today announces that its ongoing US collaboration with the Schepens Eye Research Institute at Harvard Medical School will benefit from an unrestricted grant to advance retinal research at Schepens from a leading US specialty healthcare company. This funding will be directed towards the first phase of a two year translational programme to take human retinal progenitor cells (hRPCs) towards the clinic in the US, initially as a candidate cell-based therapy for retinitis pigmentosa, a blindness-causing disease of the retina. ReNeuron has designated this first retinal candidate as ReN003. The first phase of the programme will involve studies to demonstrate functional improvement of vision after grafting of hRPCs in ophthalmic disease models. Systemic approaches to optimise the yield of hRPCs in culture will also be carried out in this next phase of the collaboration, ahead of future GMP manufacture of the cells. Last year, researchers at the Schepens published two papers in the journals Experimental Eye Research1 and Investigative Ophthalmology & Visual Science2, describing the growth kinetics and molecular characterisation of hRPCs developed under the collaboration with ReNeuron and their ability to differentiate along the photoreceptor lineage, both in vitro and in vivo. Following transplantation in a rodent model of damaged retina, the hRPCs were seen to integrate with the host retinal tissue and differentiate to express the protein rhodopsin, a marker for the light-sensitive rod cells found in healthy retina. Importantly, although retinitis pigmentosa is the initial target disease in ReNeuron's collaboration with Schepens, the hRPCs developed in the programme will almost certainly be applicable as cell therapy candidates for other blindness-causing diseases, such as age-related macular degeneration and diabetic retinopathy. Dr Michael Young, Associate Scientist at Schepens, Associate Professor of Ophthalmology at Harvard Medical School, and lead Investigator on ReNeuron's collaboration with Schepens, said: "We are excited that this grant funding has enabled us to move our research forward rapidly with ReNeuron and bring this therapy closer to helping patients with blinding diseases of the retina." Dr John Sinden, Chief Scientific Officer of ReNeuron, said: "We are delighted that Schepens has received this industrial grant and that it will be directed towards our ongoing collaboration to develop a cell-based therapy for retinitis pigmentosa using human retinal progenitor cells. We regard this funding as a strong endorsement of the potential of the programme and we very much look forward to working with the Schepens team to drive the programme towards the clinic as quickly as possible."
1. Growth kinetics and transplantation of human retinal progenitor cells
2. Molecular characterisation of human retinal progenitor cells
Enquiries:
Dr John Sinden, Chief Scientific Officer ReNeuron Group plc
Financial Dynamics
Daniel Stewart & Company plc
Matrix Corporate Capital LLP About retinitis pigmentosa Retinitis pigmentosa (RP) is the name given to a group of inherited diseases of the retina that all lead to a gradual and progressive reduction in vision. This decline in vision is caused by the death of photoreceptor cells (rods and cones) found in the retina.
RP is typically diagnosed in adolescents and young adults and most sufferers will be legally blind by the age of 40. The disease affects approximately 1 in 3000 to 4000 people. Source: British Retinitis Pigmentosa Society; Foundation Fighting Blindness About the Schepens Eye Research Institute Schepens Eye Research Institute fights blindness by developing new technologies, therapies and knowledge to preserve and restore vision. Through a continuum of discovery, the Institute works toward a future in which blindness is prevented, alleviated, and, ultimately, cured. Founded in 1950 by famed retinal surgeon Charles L. Schepens, M.D., Schepens Eye Research Institute is the largest independent eye research institute in the United States and an affiliate of Harvard Medical School. Since its inception, the Institute has trained more than 600 postdoctoral fellows in various disciplines of eye research; trained more than 500 eye surgeons who now practice around the world; and published more than 4,600 scientific papers and books about health and eye disease. About ReNeuron ReNeuron is a leading, UK-based stem cell business. Its primary objective is the development of stem cell therapies targeting areas of significant unmet or poorly met medical need. ReNeuron has regulatory approval for a Phase I clinical trial in the UK with its lead ReN001 stem cell therapy for disabled stroke patients. Patient recruitment for this trial will commence shortly. The Company is developing stem cell therapies for a number of other conditions, including peripheral arterial disease and diseases of the retina. ReNeuron has also developed a range of stem cell lines for non-therapeutic applications - its ReNcell®products for use in academic and commercial research. The Company's ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by USA-based Millipore Corporation. ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com. This announcement contains forward-looking statements with respect to the financial condition, results of operations and business achievements/performance of ReNeuron and certain of the plans and objectives of management of ReNeuron with respect thereto. These statements may generally, but not always, be identified by the use of words such as "should", "expects", "estimates", "believes" or similar expressions. This announcement also contains forward-looking statements attributed to certain third parties relating to their estimates regarding the growth of markets and demand for products. By their nature, forward-looking statements involve risk and uncertainty because they reflect ReNeuron's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of factors could cause ReNeuron's actual financial condition, results of operations and business achievements/performance to differ materially from the estimates made or implied in such forward-looking statements and, accordingly, reliance should not be placed on such statements. This information is provided by RNS The company news service from the London Stock Exchange END
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I absolutely agree, Jackozy, I see no point trying to trade AIM shares too often because of the wide spread and MM manipulation. In my experience you have to be lucky or long with AIM shares and I have been unlucky sufficiently often to have decided some time ago to research AIM shares carefully, decide on my appetite for what is always going to be a risk and then, if I am happy, buy. Unless the fundamentals change significantly for the worse I then hold and wait .............sometimes for a long time. RENE is in one sense typical of that policy but I happen to believe more strongly in it as an investment than any other AIM share in which I have invested. So I too am definitely holding for the long-term particularly as virtually every piece of news emanating from RENE since the start of 2009 has been very positive. If RENE was worth buying in 2008 when I first bought it is certainly worth holding now.
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Many thanks for responding. It's nice to know there's a few of us who've not been shaken out by the placing.
Agree with kiki09. All my stocks are AIM (call me insane) and that's exactly how it goes. You have to take a longer term view, or learn to trade it. Only problem is that when the news strikes, the mm's open it high but with a wide spread which often makes it prohibitive to risk trading. Very tricky. Classic example in GKP this week (it's been a crazy week over there!). Easier to trade long on fundamentals and that's exactly what I'm doing here. Regards all, Jackozy |
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Its interesting that the 25 trades today were in significant batches for 2m to be traded. I guess the mm's who have bought at 5p are now off loading at 5.5p, and buying back even cheaper. Good return when you have no competition. Hopefully when they decide that holding onto the stock will reap them an even greater return we may get a rise. Roll on successful trials.
Kind regards Freddie. |
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Iain29,
My wife is due in 3 weeks, I don't know if I've missed the 'consent' window - but as previosuly stated, I can't see any reason not to donate it and we will try and sort it out - maybe via the midwife? Hope all goes well, seems like a very simple step to do a lot of good. At least having a baby will stop me checking on RENE everyday. I know I should just lock the investment away and come back in 2011 (2012, 2013?!) - but I can't.... |
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