Renovo reaches milestone in evolution of new product

BIO-PHARMA group Renovo has reported a milestone in the evolution of one of its major drugs named Juvista.

The Manchester-based company – which specialises in medication which reduces scarring and speeds up healing – has reported that it has recruited all the volunteers it needs for the third phase of the European trials of Juvista.

The trial has now recruited over 350 patients from 55 centres in 10 different countries including the UK, France, Hungary, Germany, Italy, Poland, Spain, Denmark, Latvia and USA. 

These patients will have their scars photographed and then the extent to which the wounds have healed will be assessed by an independent panel of experts in a year.

Professor Mark Ferguson, Renovo’s chief executive, said: “I am delighted that the first EU Phase III trial of Juvista is fully recruited, on schedule, and we look forward to the results in the first half of 2011.”

TheBusinessDesk.com reported in February that Renovo’s cash reserves were down by £5.4m to £59.9m during the three months to December 31.

It plans to have between £25m and £30m in the bank when it reports the European trials of Juvista in 2011.