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ReNeuron shares sharply higher after £68.4 million placing

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.

Quick facts: ReNeuron Group PLC

Price: 128.5 GBX

LSE:RENE
Market: LSE
Market Cap: £40.91 m
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ReNeuron seeing increased interest across its assets from potential licensee...

ReNeuron Group PLC (LON: RENE) CFO Michael Hunt sat down with Proactive Investors at the 11th Annual Biotech Showcase in San Francisco. The UK-based developer of cell-based therapeutics in is the U.S. engaging with U.S. investors, and is looking to build out its business development...

on 01/11/2019

2 min read