According to the company sources, the new product, an injection formulation of the Juvidex active ingredient M6P will be used in the treatment for tendon adhesions, and the company is speeding up its approval process.
Ian Wainwright, MD life sciences specialist sales at brokerage Canaccord Adams, said: “The Class III medical device route will be used, (which is) more simple and therefore quicker and cheaper … This is interesting new news.”
Earlier in April 09, Renovo said that it was in talks with an unnamed third party which had made a bid approach for the new product.