Renovo dermatology news
Renovo announced that it will restructure and terminate all current employees, effective June 30. The company's board will also be reduced with Mark Ferguson, formerly CEO, becoming non-executive chairman, and David Blain, formerly CFO, becoming non-executive chairman, David Blain acting as part-time CFO and company secretary and Jamie Brooke, investment manager at Henderson Global Investors, becoming non-executive director.
Renovo will also vacate the majority of its premises in Manchester. The company said it has settled all of its expenses other than its ongoing Phase II trials of Adaprev and Prevascar, which are expected to cost £1 million ($1.6 million) in total and report data in 2H11 and 1H12, respectively. Adaprev is a mannose-6-phosphate (M6P) formulation being evaluated to reduce tendon adhesions following primary surgical repair. Prevascar is an intradermal injection of human recombinant IL-10 being evaluated to prevent and reduce scarring. ...