19th Apr 2018 13:17
LONDON (Alliance News) - ReNeuron Group PLC on Thursday said it is the "lead" industry participant in a new GBP1.5 million grant from the UK's innovation agency Innovate UK.
The grant has been awarded to co-fund work by ReNeuron and partners to develop its human retinal progenitor cells stem cell therapy candidate for the treatment of blindness-causing retinal degenerative diseases.
The therapy, ReNeuron said, is currently being tested in a phase I/II clinical trial in the US.
General Manager in Wales Sharon Grimster said: "We and our collaborators are delighted to have won this latest grant from Innovate UK to develop a suite of robust and reliable release and characterisation assays reflecting the mechanism of action of our hRPC cell therapy candidate.
"This is a challenging but vital part of the broader commercial manufacturing strategy for the therapy and we are pleased to be working with leading academic and commercial manufacturing partners on this important programme of work."
Shares were down 5.4% on Thursday at 70.00 pence each.
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