LONDON, UK / ACCESSWIRE / August 26, 2020 / ReNeuron has refocussed onto its human retinal progenitor cell (hRPC) as shown in the last business update and in the FY20 results. hRPC, now the lead project, show a consistent and robust sustained averaged response at the one million cell dose. The next dose level, two million cells in nine patients, could start this autumn. A pivotal study could be initiated in 2022. ReNeuron is starting to create multiple partnering opportunities from its core technologies. We have revised our valuation to £170m from £107m.
Our former indicative value of £107m was based on a prior model of the potential hRPC market. We have used updated information to reassess the project and build a more complex market model. With other adjustments, this takes the indicative value to £170m. We note current high deal values in the gene and cell retinal therapy area, with one totalling $250m plus royalties in June. Exosome evaluation projects to deliver RNA drugs are promising but are preclinical. Many deals in this area have been at high values. Cash on 31 March 2020 was £12.6m. We envisage a further funding need in FY21 of £20m.
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