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Edison Issues Outlook on ReNeuron Group (RENE)
Date:3/23/2017

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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About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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


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