Provensis suffers new US blow on Varisolve
This article was originally published in Clinica
Executive Summary
BTG subsidiary Provensis suffered a major setback last week after failing to release its varicose veins treatment, Varisolve (polidocanol microfoam), from clinical hold in the US where it has been since November last year, due to the potential risks of gas embolism (see Clinica No 1073, p 15). News of the delay was accompanied by an announcement that Provensis would need to minimise operational costs, including cutting a number of the 39 staff working on the Varisolve project. BTG's share price fell 30% to 98p when the news was released.