ReNeuron Group plc (RNUGF)
OTC PINK OTC PINK Primary Summary
ReNeuron set to delist after it calls time on equity fundraising effort
ReNeuron Group PLC (AIM:RENE, OTC:RNUGF) said it would delist from AIM after it called time on City fundraising efforts to focus on the ongoing administration process. In an update, the company said it was not in the best interests of existing shareholders to pursue a "highly dilutive" equity fundraise, given the limited funds identified and the terms offered by potential investors.
ReNeuron says funding talks ongoing
ReNeuron Group PLC (AIM:RENE, OTC:RNUGF) said it is seeking potential new investors to enable the company to trade as a going concern following an exit from administration. However, there is a discrepancy between the amount it can pay existing creditors and the amount they are seeking, sad the statement.
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ReNeuron Group plc Profile
| Biotechnology Industry | Healthcare Sector | Iain Gladstone Ross CEO | OTC PINK Exchange | GB00BF5G6K95 ISIN |
| GB Country | 26 Employees | - Last Dividend | 24 Jan 2018 Last Split | - IPO Date |
Overview
ReNeuron Group plc is a pioneering company based in the United Kingdom, focused on the research, development, and commercialization of cell-based therapies. Founded in 1997 and operating from Pencoed, ReNeuron is at the forefront of developing innovative solutions for significant medical ailments, primarily through its cutting-edge stem cell technologies. The company’s endeavors are concentrated on addressing challenging diseases like stroke disability and retinitis pigmentosa, which leads to blindness. With a partnership with University College London, ReNeuron is also venturing into generating immune cells from induced pluripotent stem cells for anti-cancer therapies, showcasing its commitment to leveraging cell-based technologies to combat a broad spectrum of diseases.
Products and Services
ReNeuron Group plc boasts a diverse portfolio of cutting-edge products and services in the realm of cell-based therapeutic solutions, as highlighted below:
- CTX Stem Cell Therapy Candidate: This pioneering therapy is under development to tackle stroke disability, aiming to significantly improve recovery outcomes for stroke survivors. Through its innovative approach in utilizing CTX stem cells, ReNeuron is focusing on revolutionizing the treatment landscape for stroke patients.
- Human Retinal Progenitor Cell Therapy: Currently in Phase 2 clinical trials, this therapy is devised to combat retinitis pigmentosa, a genetic disorder that results in progressive vision loss and eventual blindness. This cell-based treatment illustrates ReNeuron's commitment to addressing severe ocular diseases with groundbreaking therapeutic solutions.
- CTX-derived Exosomes: In the realm of Nano-sized solutions, ReNeuron is exploring CTX-derived exosomes, which are currently in the pre-clinical stage. These small packages of information, released by CTX cells, hold the potential for a wide range of therapeutic applications, including regenerative medicine and drug delivery mechanisms.
- ReNcell Products Licensing: Beyond its direct research and development efforts, ReNeuron also licenses its ReNcell products. These products encompass cell lines for use in neuroscience and regenerative medicine research, enabling other entities to leverage ReNeuron’s advanced cell technologies for diverse scientific endeavors.
