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ReNeuron creates role of business development and alliance director as deals pursued

Experienced biopharma director Nick Adams “will strengthen our business development capabilities and also be a dedicated resource for managing current and future licensing agreements”

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The appointment comes as ReNeuron looks to advance its two key clinical trials

ReNeuron Group PLC (LON:RENE) has appointed a business development director as it hunts for potential collaborations and out-licensing deals.

Nick Adams, who has 30 years' experience in the pharmaceutical and biotechnology industries and has recently been working with the company as a consultant, has joined under the newly created role of vice president of business development and alliance management.

READ: ReNeuron enjoys “transformational” year; eye disease trial data due in October

The appointment comes as the AIM-listed company looks to build on the licence deals signed with Chinese giant Fosun Pharma and advance Phase II clinical trials of its CTX cell therapy candidate in chronic stroke disability and a hRPC cell therapy candidate to treat retinitis pigmentosa.

Adams has “considerable experience leading a range of international deal types including in- and out-licensing, divestments, spin-outs and mergers and acquisitions”, ReNeuron said, in particular highlighting the US$160mln raised during his time at Antisoma PLC.

WATCH: ReNeuron makes key business development hire as it looks to build on licensing deals

ReNeuron chief executive Olav Hellebø said: “He will strengthen our business development capabilities and also be a dedicated resource for managing current and future licensing agreements.

“As highlighted in recent announcements, business development has become an increasingly important aspect of the company's activities as we pursue discussions with commercial third parties regarding potential collaboration and/or out-licensing deals across our programmes.”

Shares were down 3.1% to 235p on Friday afternoon.

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Quick facts: ReNeuron Group PLC

Price: 129 GBX

LSE:RENE
Market: LSE
Market Cap: £41.06 m
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