LONDON (ShareCast) - (Sharecast News) - Therapeutics outfit ReNeuron continued to trade in line with expectations throughout its recently wrapped up trading year, advancing both its human retinal progenitor cell therapy candidate and its CTX cell therapy candidate.
In the twelve months ended 31 March, ReNeuron saw an increased level of interest in its technologies and therapeutic programmes from commercial third parties, as demonstrated by its recent licence agreement with Fosun Pharma.

The AIM-listed outfit also told investors on Wednesday that it was in discussions with other commercial third parties regarding potential collaboration and/or out-licensing deals across its programmes.

Chief executive Olav Hellebø said: "We are greatly encouraged by the progress we have made with our cell therapy clinical development programmes for retinitis pigmentosa and stroke disability since our interim financial results update last December.

"We look forward to continuing to advance our clinical and business development activities in the months ahead."

ReNeuron revealed that cash and equivalents had dropped 29% to £26.39m, however the firm expects its current financial resources, combined with a £6m upfront fee and near-term milestone income from its licence agreement with Fosun Pharma, to be "sufficient" to support operations for "at least the next 12 months".

As of 1330 BST, ReNeuron shares had slid 4.07% to 295p.

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