Stem cell therapies developer ReNeuron Group has started recruiting for its treatment for disabled stroke patients (ReN001).
The NHS Greater Glasgow and Clyde Health Board has given permission for the ReN001 trial to take place at the Institute of Neurological Sciences at Glasgow’s Southern General Hospital. This will be the first UK clinical trial using stem cells on humans. The treatment is injected close to the stroke lesion damage in the brain and it helps the brain to rebuild damaged blood vessels, reduce inflammation and ‘re-wire’ the brain.
The trial will involve 12 moderate to severely disabled stroke patients and initially one patient will be treated at a time. Four different doses will be trialled. After progress is made the trial could be speeded up.
ReNeuron also has a treatment called ReN009 for peripheral arterial disease and once called ReN003 for the eye disease retinitis pigmentosa. These are not as far advanced but regulatory hurdles are less strict so they could catch up with ReNE001 over the next few years.
ReNeuron wants to develop these treatments and then find a partner at a later stage in their development.
The ReNE001 trial will add to the company’s costs and ReNeuron is also developing a frozen version of its CTX stem cell line.
There was cash of £5.5m in the balance sheet at the end of March 2010. That cash will last until the second quarter of 2011. There is also an equity funding line from Matrix that could provide a further £4.9m.
At 4.8p a share, ReNeuron is valued at £21m.
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