ReNeuron Group wins grants for stem cell therapy development
ReNeuron Group has won two grants worth 1.2m pounds to develop its stem cell therapy.
ReNeuron Group has won two grants worth 1.2m pounds to develop its stem cell therapy.
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.
The first award of £0.4m will be used for ReNeuron's 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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
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.
"This highly competitive scheme involves a rigorous peer review of applicants' technologies and commercial development plans.
"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."
Shares rose 0.86% to 2.94p at 08:52 Monday.
RD
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Nvidia becomes world's first $4 trillion company
The AI boom has catapulted Nvidia’s share price to astronomic heights, becoming the world’s most valuable company and the first to pass the $4 trillion milestone
-
Trump delays Liberation Day 2.0, but threatens new tariffs
Donald Trump has extended his 90-day tariff pause but has sent letters to 14 countries detailing the tariffs they will face from 1 August, as well as threatening new levies on copper and pharmaceuticals