ReNeuron regains rights to hRPC technology; looking for new partner

Having only in July announced an agreement with an unnamed US biopharma company for its hRPC retinal stem cell technology and therapeutic programs, shares of UK cell-based therapies company ReNeuron (AIM: RENE) plunged nearly 20% to 65.00 pence by early afternoon today, when it revealed that the American firm has pulled out of the deal.

The US company has now informed ReNeuron that it no longer wishes to progress to a definitive licensing agreement. Importantly, the US company’s decision is not related to the hRPC technology itself or to the data generated with the hRPC platform but is instead specific to the US company. ReNeuron’s management therefore believes that the company’s prospects for licensing its hRPC technology and programs remain strong.

Will resume discussions with other interested parties