- Stem cell-based therapy company ReNeuron Group posted a first-half loss as it continued to develop potential treatments for stroke sufferers and sight problems.

Pre-tax losses for the six months through September amounted to £6.8m, narrowing from losses of £11.0m on-year.

ReNeuron said patient screening and enrolment had commenced in a phase 2b clinical trial in the US for its CTX stem cell therapy candidate for stroke disability.

Top line data was still expected in early 2020.

Patient dosing had recommenced in a Phase 1/2 study using an optimised hRPC formulation for the treatment of retinal diseases.

Top line data was expected in mid-2019.

ReNueron said it was in 'active and well-progressed discussions' with potential commercial partners.

'Our therapeutic development programmes have continued to progress well during the period,' chief executive Olav Hellebo said.

'We are particularly excited to have opened the placebo-controlled Phase 2b clinical trial in the US for CTX in chronic stroke disability.'

'We remain encouraged by the progress made in partnering discussions across all of our technologies and programmes and we hope to be able to conclude an initial out-licensing agreement in the near term.'

'We have continued to maintain tight control over our operating costs, reflected in the financial statements for the period.'

'Our cash position remains robust and we are positioned to deliver significant clinical milestones in our stroke and retinitis pigmentosa programmes over the next 18 months.'

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