Shares in ReNeuron Group PLC (AIM:RENE) were up 13% in early trade after independent data effectively validated the commercial potential of its pluripotent stem cell (CTX-iPSC) technology.
Researchers at University College London generated results revealing the product can be produced at mass scale as a therapeutic for nerve damage.
UCL’s Centre for Nerve Engineering delivered its verdict recently to the world congress of the Tissue Engineering and Regenerative Medicine International Society.
ReNeuron chief scientific officer, professor Stefano Pluchino, said: "These independently generated results are particularly encouraging as they support the idea that ReNeuron's CTX-iPSCs, initially reprogrammed from a proprietary, conditionally immortalised, well-characterised, clinical-grade neural stem cell line, may allow for the potential to scale production of 'off the shelf' allogeneic tissue-engineered therapeutics.
“This makes them a feasible mass-scale solution for areas such as peripheral nerve repair."
ReNeuron is a specialist in stem cell therapies and is developing cutting edge treatments for stroke and eye disease.
At 8.25 am, the stock was up 14.5p at 118.5p.
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