Healthcare Industry News: Patient Safe
News Release - February 10, 2023
Aristea Therapeutics Announces Discontinuation of RIST4721 Development Program and Decision to Dissolve the Company
SAN DIEGO, Feb. 10, 2023 -- (Healthcare Sales & Marketing Network) -- Aristea Therapeutics (Aristea), a clinical-stage immunology focused drug development company advancing novel therapies to treat serious inflammatory diseases, today announced that, due to safety findings in the ongoing Phase 2 clinical trials, it has discontinued the RIST4721 development program 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 M. Mackay, Ph.D., President and CEO 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."
About Aristea Therapeutics
Aristea Therapeutics (Air-iss-tay-uh) is a clinical-stage immunology focused drug development company developing novel therapies to treat serious inflammatory diseases. Aristea is headquartered in San Diego, CA.
Source: Aristea Therapeutics
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