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ReNeuron Group (RENE): Extension Trial to Produce Data in Q122

LONDON, UK / ACCESSWIRE / October 11, 2021 / ReNeuron has announced that the nine-patient Phase IIa (2m cell dose) extension study (halted in June after a presumed eye infection case) has fully restarted with five patients left to treat. Two patients are scheduled for treatment in October. The company expects to report some data by March 2022, which could potentially open the way to a crucial partnering deal. Full efficacy data at six months post-treatment should be available around the middle of 2022. Our valuation remains £190m.

Management has stated that cash of £22.2m at March 2021 will cover costs for at least 12 months; we estimate that to Q4 FY23 is possible. An eye therapy deal from Q3FY23 might occur and could cover the pivotal trial costs. Exosome deals are possible. Our indicative value is unchanged at £190m and will be updated once the Q1CY22 initial data is presented and when pivotal trial timelines are confirmed.

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SOURCE: Edison Investment Research Limited

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