ReNeuron Plans to Report Stroke Patients Helped, CEO Says
ReNeuron Group Plc (RENE) Chief Executive Officer Michael Hunt said he expects researchers to report that people disabled by strokes showed progress and weren’t harmed in an early-stage test of the company’s stem-cell treatment.
Doctors conducting the trial at Southern General Hospital in Glasgow, Scotland, plan to present the “encouraging data” from the first nine patients studied at a conference in London this month, Hunt said at an investors’ meeting yesterday. The patients showed improvement on several measures in the first year, Hunt said.
“We see sustained reductions in neurological impairment and modified spasticity in most patients,” Hunt said. “There’s a nice trend downward over time. It sets us up nicely for a Phase 2 efficacy trial.”
ReNeuron began the safety trial more than two years ago after obtaining permission from U.K. regulators. There aren’t any treatments to reverse the disability caused by strokes, which occur when there is a sudden loss of blood to the brain. Every year, about 5 million people worldwide are disabled by strokes, according to the World Health Organization in Geneva.
Shares of Guildford, England-based ReNeuron have climbed 40 percent this year and traded up 3.7 percent at 2.80 pence at 11:28 a.m. in London, giving the company a market value of 21.7 million pounds ($33 million).
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