Shares in Reneuron Group (LON:RENE) rose by 5.5% to 4.2p this morning on new data regarding the mechanisms of action of its lead CTX stem cell line in pre-clinical models of brain damage. The company said that two sets of studies further illustrated and potentially explained the potency of CTX cells in assisting the body's own repair mechanisms in vascular conditions such as stroke and peripheral arterial disease, and suggest the potential utility of the cells to treat a much wider range of inflammatory diseases. The results of the studies will be presented at the UK National Stem Cell Network Annual Scientific Conference later this week. ReNeuron recently announced the commencement of a UK Phase I clinical trial of its lead ReN001 stem cell therapy for disabled stroke patients.

Elsewhere, Ransom (William) & Son (LON:RNSM) has agreed the sale of its loss-making operations in Italy and signed a new distribution agreement for its products in Italy and other territories. As part of the deal, the company has sold the Italian operation to its current manager for £45,000 and appointed the new company, Optima Naturals S.r.l, as a distributor. CEO, Ivor Harrison, said the sale was consistent with William Ransom’s desire to exit unprofitable business and create a sustainable focused, higher margin, differentiated natural consumer healthcare business.

Shares in Henderson Morley (LON:HML) fell by 10% to 0.18p on news that the biotech group had still not completed the sale of its ionic contra-viral therapy (ICVT) human portfolio to KMS Therapeutics. The two sides signed a letter of intent over a deal on March 12 and while KMS has completed its due diligence, the company is still seeking venture capital backing to pay for the $5m licensing deal it has agreed with Henderson. Meanwhile, Henderson is still holding discussions with an unnamed non European company that signed a similar letter of intent last October. The company has now turned to chairman Andrew Knight and chief executive Dr Ian Pardoe to inject short term loan funding.

Finally, Immunodiagnostic Systems Hldgs (LON:IDH), the company that manufactures testing kits for the biotechnology market, produced an impressive set of full year results, helped along by the recently-launched automated IDS-iSYS machine. Revenues were up 49% to £37.16m while pre-tax profits were up 130% to £10.99m and the…

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