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Press Release

Signs retinal stem cell exclusivity agreement

ReNeuron Group
Posted on: 11 Jul 18

ReNeuron Group plc (AIM: RENE), a UK-based global leader in the development of cell-based therapeutics, is pleased to announce that it has signed an exclusivity agreement with a US-based specialty pharmaceutical company in connection with the potential out-licensing of ReNeuron’s hRPC retinal stem cell technology and therapeutic programmes.

 

In exchange for granting a three-month exclusivity period, ReNeuron will receive a non-refundable $2.5 million cash payment from the US-based company.  A further $2.5 million is payable to ReNeuron subject to the completion of certain due diligence activities during the exclusivity period.  These cash payments will contribute to the Company’s ongoing working capital requirements.

 

ReNeuron aims to sign a definitive out-licensing agreement with the US-based company later this year. The agreement is envisaged to comprise a worldwide licence, excluding China, with success-based development milestone payments and royalty payments on eventual in-market sales.  ReNeuron believes the potential US partner has the financial capacity as well as the clinical and commercial competencies necessary to accelerate and maximise the value of the Company’s hRPC technology.

 

ReNeuron is also pleased to report that it is in active commercial discussions with other third parties relating to its other platform technologies and therapeutic programmes with a view to signing collaboration and/or out-licensing deals in due course. 

 

Commenting on the agreement, Olav Hellebø, Chief Executive Officer of ReNeuron, said:

 

“ReNeuron has been actively engaged in discussions with various parties during the past few months regarding the potential partnering of our hRPC retinal stem cell technology and programmes.  We are very pleased to be entering a period of further discussion and due diligence on an exclusive basis with one of these parties and hope to announce an agreement later this year.  In addition to this, we are in detailed discussions with a number of companies in connection with our other programmes.

 

“It is highly encouraging that our technologies and therapeutic programmes are attracting increasing interest from commercial third parties, reflecting the positive progress these programmes are making through pre-clinical and clinical development and their potential to address major unmet medical needs.”

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 11/07/2018

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