ReNeuron set for ‘significant clinical milestones’
Losses have widened at ReNeuron but the Bridgend-based cell therapy company is expected to achieve “significant clinical milestones” over the next three years.
The listed business reported a pre-tax loss of £18.2m in its results for the year ending 31 March 2017, up from £12.8m in 2015/16.
Royalty income was £46,000, compared to £29,000 in the year before, with grants of £854,000, up from £534,000.
The company was boosted by “positive data” from its phase II clinical trial (PISCES II) of its CTX cell therapy candidate for stroke disability.
Olav Hellebø, ReNeuron’s chief executive, said: “Our therapeutic development programmes have continued to progress well during the period, the highlight being positive Phase II data from the PISCES II clinical trial of our CTX cell therapy candidate for stroke disability.
“With our stroke programme moving into Phase III clinical development over the coming months and our retinal disease programmes moving into Phase II clinical development later this year, we expect to achieve significant clinical milestones during each of the next three years.”
View ReNeuron’s profile here.