Re: UK Government Vote

RNS Number : 8568U

ReNeuron Group plc

20 May 2008

 



ReNeuron welcomes UK Government vote on Embryology Bill

Guildford, UK, 20 May 2008: ReNeuron Group plc (LSE: RENE.L) today welcomes Parliament's decision to approve research on stem cells derived from human-animal hybrid embryos.  The decision represents the first round of votes on a number of provisions in, and amendments to, the Human Fertilisation and Embryology Bill, drafted to reform existing embryology laws in the UK. 

Michael Hunt, Chief Executive Officer of ReNeuron, said:

'Although ReNeuron's research activities are not directly affected by the provisions in the Bill, our position has always been to support all avenues of stem cell research where conducted under appropriate legal and ethical guidelines.  We view last night's decision as a significant step forward in strengthening the UK's reputation as a progressive and supportive place in which to conduct such research.  

'Our hope is that the UK's reputation for supporting such pioneering early stage stem cell research will be mirrored by further UK Government support for later stage, translational research activities such as that undertaken by ReNeuron. The focus of this translational research is to harness the immense potential of stem cells and convert them into safe and effective treatments for patients suffering from the many debilitating diseases that stem cells have the potential to treat or even cure.'

Enquiries:

ReNeuron
Michael Hunt, Chief Executive Officer	Tel: [phone]
Dr John Sinden, Chief Scientific Officer

 

Financial Dynamics
Europe
David Yates	Tel: [phone]
Lara Mott
US
Robert Stanislaro	Tel : [phone]

 

Collins Stewart
Tim Mickley	Tel: [phone]

 

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 proprietary, patented cell expansion technology to generate genetically stable neural stem cell lines. 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's clinically-tested cell encapsulation technology provides a method of protecting cells when transplanted, as well as reducing or eliminating the host immune response that might otherwise occur post-transplantation.

ReNeuron has filed for approval to commence initial clinical studies with its lead ReN001 stem cell therapy for chronic stroke disability.  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.  In addition to its stroke programme, ReNeuron is developing stem cell therapies for Parkinson's disease, Huntington's disease, Type 1 diabetes and diseases of the retina.

ReNeuron has also leveraged its stem cell technologies into non-therapeutic areas - its ReNcell® range of cell lines for use in research and in drug discovery applications in the pharmaceutical industry. ReNeuron's ReNcell®CX and ReNcell®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.

Data sources: UK Stroke Association; American Stroke Association.

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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