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London-based ReGen Therapeutics (RGT:AIM) has received approval to import and sell its nutritional supplement Colostrinin in Cyprus, sparking a 5% rise in the share price to 40p.

This is the company’s first approval to sell Colostrinin in a European Union territory and it will be sold through ReGen’s Cypriot licensee Golgi Pharmaceuticals.

Colostrinin is currently marketed in the US, Canada and Australia under the brand name CogniSure as a nutritional supplement to ‘support healthy brain aging and cognition in humans’. The product is viewed as having potential use in neurodegenerative illnesses such as Alzheimer’s disease, Parkinson’s disease, Multiple Sclerosis and Amyotrophic Lateral Sclerosis.

‘Cyprus is a member of the European Union which, with the US and Japan, is one of the three key target areas for Colostrinin,’ says chairman and chief executive, Percy Lomax. The product is expected to launch in Cyprus towards the end of Q2.

Shares says: Encouraging news but the share price remains uninspiring.