Renovo Slashes Jobs After Trial Failure | March 14, 2011 Issue - Vol. 89 Issue 11 | Chemical & Engineering News
Volume 89 Issue 11 | p. 22 | Concentrates
Issue Date: March 14, 2011

Renovo Slashes Jobs After Trial Failure

Department: Business
Keywords: layoffs, clinical trials

Renovo is reducing its staff by more than 100 people after negative Phase III clinical trial results for Juvista, an injectable solution of human active recombinant transforming growth factor β3 being developed to reduce scarring. Renovo, based in Manchester, England, employs about 110 people. The firm announced the trial results on Feb. 11. The decision to downsize is in response to a review of the results and confirmation that Shire, its commercialization partner for Juvista, has terminated a licensing agreement for the product.

 
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