Germany-based biopharmaceutical firm TeGenero AG has filed for insolvency at the local court in Würzburg, Germany. According to the released statement, the company has no longer been able to attract the necessary investments following the failure of TGN 1412, a monocolonal antibody drug candidate against chronic inflammatory conditions and leukaemia.
Six patients taking part in a clinical trial in March experienced severed adverse effects and were admitted to the Critical Care at Northwick Park Hospital in London.
A series of company statements about the TGN1412 trials can be read from TeGero's website and from the North West London Hospitals Trust.
Read the full story from Reuters.
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