Aristea shuts up shop after RIST4721 failure

It was a black Friday for San Diego, USA-based Aristea Therapeutics, as it announced that, due to safety findings in the ongoing Phase II clinical trials, it has discontinued the development program of its inflammatory disease drug candidate RIST4721 in order to protect patient safety.

As a result of this decision, the board of directors has determined, after careful and extensive consideration of a range of strategic alternatives, that the appropriate business decision is to undertake an orderly conclusion of the Aristea Therapeutics business and operations and dissolve the company.

"Although the decision to discontinue the RIST4721 development program is disappointing for the Aristea Therapeutics team and patients in need of new treatment options, we believe it is absolutely the right decision to protect patient safety which must always be paramount in drug development," said James Mackay, president and chief executive of Aristea. "The board's decision to dissolve Aristea Therapeutics was reached after exploring a range of strategic alternatives and is a sound business decision," he noted.