Shire/Renovo - Top 10 biotech deal terminations of 2011

Partners: Shire/Renovo
Based: $SHPGY - Dublin; $RNVO - Manchester, UK
Termination date: March 2011
Length: 3.8 years
Deal: $825 million ($50 million equity)
Program: Juvista for scarring, ex-EU region

What went wrong: Everything. The pivotal trial for Juvista failed its primary as well as secondary endpoints in February, and the writing on the wall was clear for everyone to see. Renovo had already undergone a painful restructuring after a prospective buyout deal fell through. After its stock plunged 75% after the trial failure, there was little left to be done but start winding down operations.

The remaining staff was let go and only one trial was left to play out as investors held out hope that Adaprev could reduce scarring after a tendon injury. Last November that trial failed to produce the kind of efficacy data needed to go on, and one last light was kept on as all remaining assets were put up for auction.

Shire/Renovo - Top 10 biotech deal terminations of 2011
Read more on

Suggested Articles

With a new research team, outlook and more than a little help from the tech world, GSK has been quietly going about shoring up its pipeline.

The World Health Organization has called out Big Pharma for its dearth of antibiotic innovation amid a growing threat of antimicrobial resistance.

The trial hit its primary endpoint by the time of an interim analysis, enabling Chi-Med to stop the study and start work on a filing for approval.