Renovo lays off staff after termination of Juvista development
Manchester – UK biotech firm Renovo has announced it is going to cut 100 jobs after the firm’s licensing partner Shire LLC announced yesterday it will terminate the partnership. In mid-February Renovo reported Phase III failure of its anti-scarring product Juvista (Avotermin, TGF-beta-3). Further exploratory analyses revealed that no design, technical, execution or analysis problems were found with the trial and no meaningful subset of responders was found in the population of scar revision patients. Renovo said that the efficacy of Juvista is insufficient to demonstrate significant benefit. Renovo will terminate development of the programme and halt recruitment to the ongoing Adaprev® trial.