Firm involved in drug trial fiasco files for bankruptcy

doi:10.1136/bmj.333.7559.114-a

BMJ 2006;333:114 (15 July), doi:10.1136/bmj.333.7559.114-a

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Firm involved in drug trial fiasco files for bankruptcy

London Owen Dyer

TeGenero, the German biotechnology firm whose experimental drug TGN1412 caused multiple organ failure in six men during a clinical trial in England, has filed for bankruptcy.

“The unforeseeable adverse reactions caused by TGN1412 in the TGN1412-HV phase I trial have made it impossible to attract the investment necessary for the company to continue operations,” the company said in a statement. “In view of the fact that there appears [to be] no reasonable prospect that the company can continue its business, TeGenero’s management had no alternative but to commence insolvency proceedings.”

The Bavarian company, founded in 2000 by scientists from Würzburg University, will be administered by an official receiver as its assets are wound up. One of those assets is the experimental monoclonal antibody TGN1412, the flagship product in TeGenero’s development portfolio but also the company’s nemesis.

“TeGenero’s development portfolio, including TGN1412, will be treated as an asset,” . . . [Full text of this article]

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