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Another UK Biotech Runs Aground

Renovo's Juvista Tanks in Phase III; Stock plunges 75%

By Nuala Moran


Monday, February 14, 2011
LONDON – Renovo plc is weighing its options, including that of winding up the company, after its lead scar-improving product Juvista failed in the pivotal Phase III European trial. Shares (LSE:RNVO) in the Manchester, UK-based company fell 75 percent to 17 pence when the news was announced on Friday afternoon.

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