ReNeuron Group plc
02 August 2007
Notification of increase in issued share capital
Guildford, UK, 2 August 2007: ReNeuron Group plc (LSE: RENE.L) announces that on
1 August 2007 it allotted and issued 16,476,190 new ordinary shares of 1 pence
each in connection with the acquisition of the business and assets of AmCyte and
the placing of new ordinary shares with investors to provide working capital for
the acquired business for at least the next year. Further details of such
acquisition and placing are set out in ReNeuron's press release of 27 July 2007.
As at 1 August 2007 the enlarged issued share capital of ReNeuron Group plc
comprised 154,167,534 ordinary shares of 1 pence each.
Enquiries:
ReNeuron
Michael Hunt, Chief Executive Officer Tel: +44 (0) 1483 302560
Dr John Sinden, Chief Scientific Officer
Financial Dynamics
David Yates Tel: +44 (0) 20 7831 3113
Claire Rowell
Collins Stewart Europe Limited
Tim Mickley Tel : +44 (0)20 7523 8350
About ReNeuron
ReNeuron is a leading, UK-based stem cell therapy business. It is applying its
novel stem cell platform technologies in the development of ground-breaking stem
cell therapies to serve significant and unmet or poorly-met clinical needs.
ReNeuron has used its c-mycER technology to generate genetically stable stem
cell lines from non-embryonic tissue sources. This technology platform has
multi-national patent protection and is fully regulated by means of a
chemically-induced safety switch. Cell growth can therefore be completely
arrested prior to in vivo implantation.
ReNeuron has filed for approval to commence initial clinical studies in the US
with its lead ReN001 stem cell therapy for chronic stroke disability. This
represents the world's first such filing concerning a neural stem cell treatment
for a major neurological disorder. There are an estimated 50 million stroke
survivors worldwide, approximately one half of which are left with permanent
disabilities. The annual health and social costs of caring for these patients
is estimated to be in excess of £5 billion in the UK and in excess of US$50
billion in the US.
ReNeuron has also generated pre-clinical efficacy data with its ReN005 stem cell
therapy for Huntington's disease, a genetic and fatal neurodegenerative disorder
that affects around 1 in 10,000 people. This programme is in pre-clinical
development. In addition to its stroke and Huntington's disease programmes,
ReNeuron is developing stem cell therapies for Parkinson's disease, Type 1
diabetes and diseases of the retina.
ReNeuron has also leveraged its stem cell technologies into non-therapeutic
areas - its ReNcell(R) range of cell lines for use in research and in drug
discovery applications in the pharmaceutical industry. ReNeuron's ReNcell(R)CX
and ReNcell(R)VM neural cell lines are marketed worldwide under license by
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 information is provided by RNS
The company news service from the London Stock Exchange SWSEFA
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