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Edison Issues Outlook on ReNeuron Group (RENE)

LONDON, March 23, 2017 /PRNewswire/ --

ReNeuron reported in December 2016 positive Phase II trial data for its CTX cells in chronic stroke patients, despite not meeting the three-month time frame of a two-point improvement in its primary outcome measure, the Action Research Arm Test (ARAT). As a result, the company has confirmed that it will progress to a pivotal controlled clinical study in 2017. Beyond CTX, we expect safety and efficacy data from its retinitis pigmentosa (RP) trial in 2017 and Phase I data from its critical limb ischaemia (CLI) trial. Our rNPV has increased to £291m.

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Our rNPV-based valuation has increased to £291m (vs £278m), as we have rolled the model forward to 2017. ReNeuron is well-funded (£60m cash at end September 2016), which should enable it to execute on an expanding clinical trial programme. This could result in a number of key inflection points, including initiation of a pivotal Phase III study for CTX in stroke (H117), initiation of a Phase II clinical trial for CTX in CLI in 2017, Phase I/II human retinal progenitor cells (hRPC) data in 2017 and further preclinical data from the exosome nanomedicine platform (efficacy and toxicity).

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For more information please contact: Dr Linda Pomeroy, Edison Investment Research, +44(0)20-3077-5738,

SOURCE Edison Investment Research
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