90% cuts at Renovo as Shire ends Juvista deal
This article was originally published in Scrip
Executive Summary
Shire has terminated its licensing deal with Renovo for the wound-healing product Juvista, following the recent failure of the drug in Phase III trials. Renovo will now cut 100 of its 110 staff, including members of its board, and is "exploring all options to maximise shareholder value".