Bankruptcy
Arno Therapeutics is calling it quits. It sold off all its assets, with the final asset being the rights to Onapristone, which it sold to Context Biopharma.
As part of a portfolio update, Altas Ventures noted that Raze Therapeutics, a biotech launched in 2014, has closed its doors.
Dart will close its doors on Feb. 9 due to poor progress on its therapeutic goals and little return on hundreds of millions of dollars in R&D.
The company indicates it plans to continue to manage and operate under the bankruptcy filing while it works with Cowen and Company to develop a plan forward.
The company’s demise was explained in a blog post by Atlas Venture partner Bruce Booth.
Nearly four months after issuing a voluntary recall of all lots of unexpired sterile drug products, Cantrell Drug Company has filed for bankruptcy.
PRESS RELEASES