Abandoned by investors in the wake of a catastrophic Phase I trial, Germany's TeGenero has filed for bankruptcy. Within hours of taking the drug TGN1412, a candidate for autoimmune and inflammatory diseases, six volunteers wound up in a London hospital suffering from severe adverse events that included organ failure. The notoriety of the case has caused British officials to review how experimental drugs are tested in humans. TeGenero had initially claimed that no adverse events were detected in animal trials, but later amended that to say that monkeys had experienced swollen glands.
"The unforeseeable adverse reactions caused by TGN1412 in the TGN1412-HV Phase 1 trial have made it impossible to attract the investment necessary for the company to continue operations," TeGenero said in a statement.
- here's the AP report on TeGenero's bankruptcy