highlights
Pipeline highlights
Juvista First European Phase 3 trial in scar revision surgery currently recruiting in ten countries and is on track to report H1 2011
Juvista Phase 2 trial in varicose vein surgery clinically and statistically significant at 500ng dose. Considered in their totality, the Phase 2 Juvista trials show consistent dose findings and considerable trial design insights: all of this learning has been applied to design the Phase 3 trials for the highest probability of success
First three Juvista clinical trials published in the prestigious medical journal “The Lancet” with an accompanying editorial comment
Adaprev to be developed as a Class III medical device
First Adaprev trial for the reduction of tendon adhesions commenced on time. Due to report H1 2011
Exploratory Juvidex trial for the acceleration of healing met pre-specified secondary endpoints with statistical significance
Juvidex to be partnered as a cosmetic for the improvement of skin appearance and acceleration of healing
Prevascar, which has already reported a statistically significant Phase 2 trial, will commence a new Proof of Concept trial in Q2 2010 in skin incisions/excisions in African Ancestral Group volunteers, using an improved clinical drug product
Awarded TSB Regenerative Medicine grant to progress towards a clinical trial a pre-clinical candidate, RP57, for scar reduction and tissue regeneration
Financial highlights
Company restructuring completed – reduction in headcount by approximately one third, providing internal cost savings of around £3–£4 million per annum
Cash consumed in operations during the year was £21.0 million (2008: £18.3 million)
Net cash position including investments at 30 September 2009 was £65.3 million (2008: £82.6 million)
Net cash position including investments at the time of the reporting of the first Juvista EU Phase 3 trial in H1 2011 is expected to be between £25 million and £30 million