Home» Preliminary Results for the year ended 30 September 2008
Preliminary Results for the year ended 30 September 2008
11th December 2008
A briefing for analysts and investors to discuss Renovo's preliminary results for the year ended 30 September 2008 and today's clinical results (see separate announcement also issued today) will be held at 14.00 (GMT) today at the offices of Buchanan Communications, 45 Moorfields, London, EC2Y 9AE. Simultaneous to the meeting, there will be a live audio web cast of the presentation available via www.renovo.com or www.citycomments.co.uk. In addition, there will be a conference call for audience participation in the presentation Q&A session. Dial-in details are as follows: +44 (0)20 8609 1435. PIN code: 640835#. A replay of the conference call will be available for one month via +44(0)20 8609 0289, conference reference 243564#.
<strong>RENOVO GROUP PLC</strong>
<strong>PRELIMINARY RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2008</strong>
<a href='documents/Renovo2008Prelims.pdf' target='_blank'>Download the full Preliminary Results document as PDF</a>
Renovo Group plc (LSE: RNVO), the biopharmaceutical company developing drugs for the reduction of scarring and acceleration of healing, today announces its preliminary results for the year ended 30 September 2008. New clinical data announced today (see separate press release):<ul><li>Multi-centre European Juvista® Phase 2 trial in varicose vein surgery met primary endpoint with statistical significance (p=0.036) for 500ng dose group</li><li>First Juvista European Phase 3 trial in scar revision surgery commenced on schedule</li> <li>Zesteem® Phase 3 trial in split thickness skin graft donor sites did not meet its primary endpoint, development discontinued</li></ul>
<strong>Preliminary highlights:</strong> <ul><li>Juvista Phase 2 trial in scar revision surgery met overall primary endpoint with statistical significance (p=0.038)</li><li>Positive feedback received from EMEA on Juvista Phase 3 clinical programme</li><li>Juvista safe and well tolerated in Phase 2 keloid pilot trial</li> <li>Juvista Phase 2 keloid pilot trial expanded to investigate efficacy in addition to safety - reports H2 2010</li><li>Juvidex® Phase 2 trial in skin graft donor sites on track to report H1 2009</li><li>Juvidex Phase 2 trial in tendon repair due to commence 2009</li></ul> Financial: <ul><li>Cash consumed in operations during the year was £18.3m (2007: £12.2m inflow)</li><li>Net cash position including investments at 30 September 2008 was £82.6m (2007: £100.7m)</li></ul>
<strong>Commenting on today's announcement, Rodger Pannone, Chairman of Renovo, said:</strong>
"Today we are delighted to report a positive trial result for Juvista, our lead drug for the reduction of scarring, in a multi-centre European Phase 2 trial in varicose vein surgery. This completes a wide ranging Phase 2 programme where a number of doses and dosing regimens have been evaluated and further increases our confidence in Juvista's efficacy."
"Our main priority is now to progress Juvista initially through the European Phase 3 programme, the first trial for which has commenced."
<strong>For further information, please contact:</strong>
Renovo Group plc
Professor Mark Ferguson, Chief Executive Officer +44 (0) 161 276 7111
Simon Bielecki, Vice President Communications +44 (0) 161 276 7142 +44 (0) 7810 157649 (on the day)