The stem cell therapy group, ReNeuron, was one of the best performers on the AIM market after a successful placing which had the backing of star find manager, Neil Woodford. The CFO, Michael Hunt, tells Proactiveinvestors that the placing, which was priced at a premium to the market price, was also buoyed up by continued support from existing investors and positive sentiment towards the Biotech sector. Woodford, who runs 2 Biotech funds raised his holding in ReNeuron to 35.5% after buying £32 million of the new shares. The funds will be sufficient to pay for ReNeuron’s existing therapeutic programmes through to 2019 and also early development of a new exosome nanomedicine platform targeting cancer.
ReNeuron shares sharply higher after £68.4 million placing
Quick facts: ReNeuron Group PLC
Price: 128.5 GBX
Market Cap: £40.91 m
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