ReNeuron appoints new CEO

UK-based stem cell therapy company ReNeuron Group has appointed Olav Hellebø as its new CEO with immediate effect.

Hellebø joins from Norwegian biotech Clavis Pharma where he held the same position and brings to the role over 20 years of experience in the pharma and biopharma industry.

During this time he built a multinational leadership team at Clavis, taking the company's lead programme through phase III clinical development and completing substantial fundraising and out-licensing transactions for the business.

Hellebø, who has also previously held directorship positions at Pharmalink and Palma Biotech, said ReNeuron impressed him with their technology, team and strong investment backing.

He added: “Regenerative medicine is very promising for advancing patient care in a multitude of diseases and I believe that the development of off-the-shelf stem cell therapies, such as ReNeuron's stem cell therapy candidates, will be the best way to ensure as many patients as possible have an opportunity to benefit from these advances in the future.”

Michael Hunt, who has held the position of CEO since July 2005, will remain on ReNeuron's Board as chief financial officer.

Bryan Morton, chairman of ReNeuron, commented: “I am delighted to welcome Olav Hellebø to the role of chief executive officer. His breadth of experience in healthcare and in the commercialisation of pharmaceuticals will be invaluable as ReNeuron moves to the next stage in the clinical and commercial development of its novel therapeutic candidates.”