Executive Summary
Renovo Group plc is a biopharmaceutical product company developing a portfolio of drugs to prevent and reduce scarring in the skin and other external and internal parts of the body. Prevention and reduction of scarring represents a significant, largely unmet, medical need in a wide variety of clinical settings. Scarring can result from acute injury in, or surgery to, the skin, blood vessels, eyes, nerves, internal organs, tendons and ligaments. Given that Renovo's drug candidates could potentially be applied to scar prevention and reduction at multiple body sites, the Company believes its drug candidates have significant potential in each of these markets. According to external research conducted by The Mattson Jack Group, the potential commercial market for prevention and reduction of scarring in the skin is worth in the order of US$4 billion per annum in the US alone. There are however currently no marketed pharmaceuticals available in the US or Europe for the prevention and reduction of scarring. Renovo aims to be first to market with a marketed pharmaceutical drug in the US and Europe to prevent and reduce scarring.
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Market & Competition
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Main Competitors
There are no near term competitors in Renovo's target market
Competitive Strengths and Weaknesses
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SWOT Analysis
Strengths -
Flagship product Juvista has a potentially lucrative partnership agreement with Shire
First mover with patented technology to reduce and/or improve the appearance of scarring.
Renovo should have between £25-30 Million (Circa 15 GBp ps) in cash at the time of reporting the first P3 trial of Juvista.
Weaknesses -
Following the failure of two P2 trials to achieve their primary endpoints the company is highly geared to the results of the first P3 trial of the flagship product Juvista reporting in the first half of 2011.
Shire (partner for Juvista) have chosen not to bid for the company despite it being very financially attractive due to it trading at less than NAV levels - This could be interpreted as a lack of…
