Smith & Nephew's (NYSE:SNN) (OTCQB:SNNUF) living cell therapy product candidate, HP802-247, failed to achieve its primary endpoint in a U.S. Phase 3 clinical trial to assess its safety and efficacy as a treatment for patients with venous leg ulcers. The primary endpoint was a statistically significant improvement in healing compared to placebo.
The reported results are top-line data. A full analysis will be completed in the next few months to determine what went wrong considering the strongly positive Phase 2a/2b results. A second Phase 3 being conducted in Europe will continue.
Hp802-247 is an allogenic living cell bio-formulation of irradiated keratinocytes and fibroblasts in a human fibrin suspension. It is designed to work with the body's own cells to stimulate healing.
Bloomberg reports that, according to analysts, there are three ex-U.S. medical firms that should be high on the target acquisition list for tax inversion deals. Ireland-based Perrigo (NYSE:PRGO), Switzerland-based Actelion and U.K.-based Smith & Nephew Plc (NYSE:SNN) (OTCQB:SNNUF) are all attractive targets. Observers believe there will be more acquisitions consummated before Congress puts limits on the maneuvers.
Stryker (NYSE:SYK) has been mentioned as a potential suitor for Smith& Nephew. Pfizer (NYSE:PFE) may make another run at AstraZeneca (NYSE:AZN) after the end of the cool-off period.