REG - ReNeuron Group plc - Additional agreement with Fosun Pharma for CTX

ReNeuronAnnouncement

13/01/2022 07:05

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RNS Number : 3326Y  ReNeuron Group plc  13 January 2022

ReNeuron Group plc

("ReNeuron" or the "Company")

 

Additional agreement with Fosun Pharma for CTX

Progression with Fosun Pharma underscores commitment to CTX stroke disability
programme

 

ReNeuron Group plc (AIM: RENE), a UK-based leader in Stem cell and Exosome
Technologies, announces that following on from the original Fosun Pharma
("Fosun") licensing agreement announced on 9 April 2019, the Company has
signed an additional agreement with Fosun, on 5 January 2022, setting out the
first steps in the potential technology transfer of the CTX drug product for
the stroke disability programme.

 

The agreement allows for £320,000 to be invoiced on signing with further
payments expected, based on services and CTX cell bank vials to be supplied by
ReNeuron in the future, although these are contingent on signing a
supplemental payment terms agreement which is currently under discussion.

 

ReNeuron will update the market further once agreement on these terms have
been reached.

 

Olav Hellebø, Chief Executive Officer, commented: "We are pleased to announce
progress in the technology transfer of the CTX drug product to Fosun and
believe this highlights the commitment Fosun has to the programme in Greater
China."

 

ENDS

 

Contacts:

 

 ReNeuron                                                 www.reneuron.com/investors (http://www.reneuron.com/investors)
 Olav Hellebø, Chief Executive Officer                    Via Walbrook PR
 Catherine Isted, Chief Financial Officer

 Stifel Nicolaus Europe Limited (NOMAD and Joint Broker)  +44 (0)20 7710 7600

 Ben Maddison, Stewart Wallace

 Allenby Capital Limited (Joint Broker)                   +44 (0)20 3328 5656
 James Reeve/George Payne (Corporate Finance)
 Stefano Aquilino (Sales & Corporate Broking)

 Walbrook PR (Media & Investor Relations)                 +44 (0)20 7933 8780 or reneuron@walbrookpr.com
 Paul McManus, Alice Woodings,                            +44 (0)7980 541 893 / +44 (0)7407 804 654

 Megan Boxall                                              / +44 (0)7788 151 967

 

 

 

About ReNeuron

 

ReNeuron is a UK based Proprietary Stem Cell and Exosome Technologies company,
harnessing its unique stem cell technologies to develop 'off the shelf'
treatments for disease with significant unmet needs.

 

The Company's lead cell therapy candidate is in clinical development for the
blindness-causing disease, retinitis pigmentosa. The Company has also
out-licensed its CTX programme in stroke disability to Fosun in China.

 

ReNeuron's stem cell derived proprietary Exosome Technology platform offers a
delivery mechanism for a variety of payloads such as siRNA, mRNA, proteins,
small molecules and genes. The Company has a growing number of partner
collaborations with Global Pharma, Biotech and academic partners in this
fast-expanding area of scientific and commercial interest. ReNeuron also has
the ability through its conditionally immortalised induced pluripotent stem
cell (iPSC) platform to make allogeneic tissue cells of choice and has the
potential to produce exosomes with tissue specific targeting ability.

 

ReNeuron's shares are traded on the London AIM market under the symbol
RENE.L.  For further information visit www.reneuron.com
(http://www.reneuron.com)

 

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