20/04/2004
HIGHLIGHTS OF THE YEAR’S KEY EVENTS
ReGen Therapeutics Plc (‘ReGen’ or the ‘Company’), a company developing a potential treatment for Alzheimer’s disease comments, at its Annual General Meeting, on progress so far this year.
SCIENTIFIC AND COMMERCIAL DEVELOPMENT
ColostrininTM manufacturing scale-up in the US is proceeding satisfactorily. Our agent has identified a significant number of potential partners for the licensing of ColostrininTM and progress continues in this area.
We have said that we intend to increase our scientific development spend from £325K in 2003 to around £1.2m in 2004 including scientific development spend associated with manufacturing. We now have ongoing science/development programmes at the following:
University of Texas Medical Branch, Galveston, Texas, USA.
Roswell Park Cancer Institute, Buffalo, NY, USA.
Open University – UK.
Proteome Sciences Plc – UK.
St George’s Hospital, London – UK.
EiRx Therapeutics Plc – Ireland.
To carry out our full programme we may need additional funding, and we are considering a number of methods to meet this funding requirement. We have been innovative in the past and we will, if required, be so in the future. We are continuing to develop our corporate structure, and are seeking to increase recognition of the Company and ColostrininTM in the US.
Percy Lomax, Executive Chairman, commented ‘We face the rest of the year with confidence that the aims we set out in the Annual Report and Accounts 2003 of achieving manufacturing scale-up, a licensing deal and further development of our science will be achieved.’
Set out below a brief synopsis of the key press releases so far this year as an aide memoire. They are available in full on ReGen’s website
www.regentherapeutics.com
PRESS RELEASES
12th February 2004
ReGen placed 18,181,818 million new ordinary shares at 2.75p per share with new and existing shareholders to raise £500,000 before expenses.
17th March 2004
A manuscript reviewing the full results of ReGen’s clinical study RG-010 was published in the February 2004 edition of The Journal of Alzheimer’s Disease (the ‘Journal’). The Chairman commented ‘We are pleased that the full results of the study have been published in this international peer reviewed journal that focuses on all aspects of the management of Alzheimer’s disease. We believe that the publication of the article communicates the potential of ColostrininTM as a safe and effective therapy for Alzheimer’s disease to a much wider audience, including potential development and/or marketing partners.’
22nd March 2004
We announced that ongoing Mode of Action research, most of which has been conducted as part of ReGen’s ongoing collaboration with the University of Texas Medical Branch, Galveston, Texas, USA, has suggested that ColostrininTM may have efficacy in the prevention and/or treatment of other diseases. These diseases include Multiple Sclerosis, Parkinson’s Disease and Amyotrophic Lateral Sclerosis (Lou Gehrig’s Disease). Information on the mode of action of ColostrininTM has been published in the Journal of Molecular Neuroscience (I. Boldogh et al) 2003.
5th April 2004
We announced that a paper had recently been published by Professor Marian Kruzel (consultant to ReGen) in the Protein Journal (February 2004) summarising the principles of a new method for the extraction from colostrum of ColostrininTM. The Chairman commented ‘As we have reported previously, this new method is now being scaled up under a contract with an USA based bovine colostrum processor. Having a good manufacturing process is very important in being able to attract a licensing partner.’
5th April 2004
ReGen announced that Percy Lomax (Executive Chairman) made a visit to New York on the 22nd to 26th March 2004 to increase recognition of the Company and ColostrininTM. The highlight of the visit was a well-received presentation at the Plaza Hotel to over 50 people from the medical, trade media and financial communities. There were also a series of individual meetings with financial professionals, corporate advisers and corporate entities.
The visit was part of the longer term strategy for the Company to build a presence in the United States, where it conducts a substantial part of its research and is carrying out its manufacturing scale-up. Therefore, in view of these facts and that the US is by far the largest pharmaceutical market, and the major equity market in the world, securing a presence in the US is a key long term goal for ReGen.
Further information:
Andrew Marshall
Marshall Robinson Roe
Tel No: 020 7960 6007