This morning’s additional Phase IIa data on the hRPC programme in Retinitis Pigmentosa (RP) is very encouraging, with all treated patients to date demonstrating an improvement in visual acuity from baseline. We look forward to more detailed results to be released on 12th October at the American Academy of Ophthalmology Annual Meeting (AAO) in San Francisco. As a reminder, RP is a large Orphan disease (around 100,000 cases in the US pa) with no current treatment options. The disease affects the photoreceptors of the retina, and most patients will be legally blind by the age of 40. Following completion of the Phase IIa programme in 2020e, we expect the RP programme to follow an accelerated regulatory pathway, consistent with its Orphan Drug Designation (in both the US and Europe) and FDA Fast Track status. We reiterate our positive stance on ReNeuron.