Dialysis giant Fresenius (NYSE:FMS) re-introduced its renal research branch, renaming it "Frenova" and reiterating the group’s commitment to developing novel therapies.
Frenova, formerly known as the "Clinical Studies Group at FMCNA," has been around since 2001 and provides support for clinical trials specific to kidney disease and related conditions. Frenova is the only Phase I-V clinical partner dedicated to medical device and drug research for renal therapies, Fresenius noted.
"Frenova is a new name, but the company is built on more than a decade of experience focused exclusively on the clinical development of new renal therapies largely developed using the world’s largest dialysis treatment and research network," Frenova vice president and general manager Kurt Mussina said in prepared remarks. "Developing treatments to improve the quality of life for people with kidney disease has always been our singular objective. Our new identity as Frenova reflects that mission and will play a key role in furthering it."
The R&D group provides partners with data on more than 390,000 pre-dialysis patients with chronic kidney disease as well as 183,000 end stage renal disease patients undergoing dialysis. Frenova also holds significant clinical data from 2 decades’ worth of real-world clinical trials, the company said.
The re-branding announcement comes amid some tough time for Fresenius, which faces a difficult year ahead after dealing with inspection issues and reimbursement pressure from regulators
FMS shares were up 0.4% today, trading at $34.73 as of about 2:55 p.m. The stock is down 2.5% since the start of the year.
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