Collaboration with Cell Therapy Catapult

RNS Number : 0799B

ReNeuron Group plc

28 March 2013

 



For immediate release

28 March 2013

ReNeuron and Cell Therapy Catapult in landmark collaboration on new cell manufacturing technologies

First UK corporate deal for CT Catapult to focus on ReNeuron's lead cell therapy candidate

Guildford and London, UK -  28 March 2013:  ReNeuron Group plc (AIM: RENE.L) and the Cell Therapy Catapult, which is focused on the development of the UK cell therapy industry to increase the nation's health and wealth,  are pleased to announce they have signed an agreement to work together on new cell therapy manufacturing technologies and assays. The Cell Therapy Catapult is a centre of excellence for regenerative medicine established in 2012 to stimulate innovation in this area.

The work is expected to be completed by the end of 2014 and will focus on ReNeuron's lead CTX stem cell line. This cell line is used in ReNeuron's ReN001 therapy for stroke (currently in Phase I clinical development), and in its ReN009 therapy for critical limb ischaemia, shortly to enter clinical development.

The collaboration will focus on the development and optimisation of the processes required to scale up manufacture of the CTX cell line, including rapid cell culture techniques, cryopreservation methodologies and the development of protocols for automated manufacturing processes. ReNeuron and the Cell Therapy Catapult will also work on improved potency assays for the CTX cells, based on the characteristics of the cells and their potential mechanisms of action. The Catapult will contribute £1.3 million into the collaboration, to be provided in the form of expert knowledge, plus state-of-the-art laboratories, equipment and services, while ReNeuron will also provide facilities, staff and relevant expertise.

Michael Hunt, CEO of ReNeuron, said: "We are delighted to be the first UK cell therapy business to work with the Cell Therapy Catapult.  The collaboration will enable us to accelerate the manufacturing development of our lead CTX stem cell therapy candidate as well as tapping into the growing infrastructure, expertise and services that the Cell Therapy Catapult offers."

Keith Thompson, CEO of the Cell Therapy Catapult, said: "As ReNeuron is one of the leading UK cell therapy companies, we are delighted that it is our first corporate partner in this collaborative R&D deal.  This collaboration will enable us to expand our capabilities and expertise, as well as helping ReNeuron advance development of its pipeline, and so fits well with our focus on growing the UK cell therapy sector."

Enquiries:

ReNeuron                                                                                 [phone]

Michael Hunt, Chief Executive Officer

Dr John Sinden, Chief Scientific Officer 

Cell Therapy Catapult

Keith Thompson, CEO                                                                [phone]

Emma Palmer Foster, Strategic Communications Consultant         [phone]

[e-mail]

Buchanan (for ReNeuron)                                                         [phone]

Mark Court, Fiona Henson, Sophie Cowles                                                          

Cenkos Securities (for ReNeuron)                                             [phone]

Stephen Keys, Adrian Hargrave (NOMAD and Broker)

Andy Roberts (Sales)

Technology Strategy Board (for Cell Therapy Catapult)

David Hulmes, Media Relations                                                     [phone]

[e-mail]                                                             [phone]

Media Relations Team                                                                  [phone]

[e-mail]

Notes to Editors

About the Cell Therapy Catapult

The Cell Therapy Catapult is a centre of translational excellence for regenerative medicine. Its vision is for the UK to be a global leader in the development, delivery and commercialisation of cell therapy, making it a location for business start-up and growth.  Based in London at Guy's Hospital, the centre plans to take products into early clinical trials, providing clinical, technical, manufacturing and regulatory expertise and access to the NHS. There will be a focus on collaboration and lowering barriers to investment and funding, and operations will grow rapidly throughout 2013. The global cell therapy industry was estimated to have an turnover of $1bn in 2011 and is estimated to grow to $5bn by 2014 (Mason Regen Med 5(3) 2010, Mason Regen Med 6(3) 2011). For more information please go to www.catapult.org.uk/celltherapy.

About Catapults

Catapult centres are being established by the Technology Strategy Board, as a new addition to its range of programmes to stimulate innovation. They are places where the best of the UK's innovative businesses and researchers work together to bring new products and services more quickly to commercialisation. Focusing on areas with great market potential, Catapults will open up global opportunities for the UK and generate economic growth for the future. In addition to the Cell Therapy Catapult, catapults for High Value Manufacturing, Offshore Renewable Energy, Satellite Applications, the Connected Digital Economy, Future Cities and Transport Systems are being established.

About the Technology Strategy Board

The Technology Strategy Board is the UK's innovation agency. Its goal is to accelerate economic growth by stimulating and supporting business-led innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit www.innovateuk.org.

About ReNeuron

ReNeuron is a leading, clinical-stage stem cell business.  Its primary objective is the development of novel stem cell therapies targeting areas of significant unmet or poorly met medical need.  

ReNeuron has used its unique stem cell technologies to develop cell-based therapies for significant disease conditions where the cells can be readily administered "off-the-shelf" to any eligible patient without the need for additional immunosuppressive drug treatments.  ReNeuron's lead candidate is its ReN001 stem cell therapy for the treatment of patients left disabled by the effects of a stroke. This therapy is currently in clinical development.  The Company is also developing stem cell therapies for other conditions such as critical limb ischaemia, a serious and common side-effect of diabetes, and blindness-causing diseases of the retina such as retinitis pigmentosa.

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 Merck Millipore.

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.

 

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