LONDON (SHARECAST) - ReNeuron Group has won two grants worth 1.2m pounds to develop its stem cell therapy. <\/p>\n
The grants were awarded by the UK Biomedical Catalyst, a programme of public funding jointly managed by the Technology Strategy Board and the Medical Research Council. <\/p>\n
The first award of 0.4m will be used for ReNeurons ReN009 stem cell therapy candidate for critical limb ischaemia, a severe blockage in the arteries which markedly reduces blood-flow to the extremities including hands, feet and legs. <\/p>\n
The second award of 0.8m relates to the company's ReN003 stem cell candidate for the treatment of retinitis pigmentosa, an eye disease in which there is damage to the retina. <\/p>\n
Michael Hunt, the Chief Executive Officer of ReNeuron, said: \"We are delighted to have been successful in winning the two grants we applied for in the current round of the Biomedical Catalyst funding competition. <\/p>\n
\"This highly competitive scheme involves a rigorous peer review of applicants' technologies and commercial development plans. <\/p>\n
\"In common with other awardees, we therefore regard the grants as representing a strong independent endorsement of ReNeuron's world-class stem cell development capabilities which we hope will eventually lead to the wide-scale treatment of disease conditions where there is currently a very large unmet medical need.\" <\/p>\n
Shares rose 0.86% to 2.94p at 08:52 Monday. <\/p>\n
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See original here: LONDON (SHARECAST) - ReNeuron Group has won two grants worth 1.2m pounds to develop its stem cell therapy. Continue reading
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