Altair closes up shop following trial failure

Altair Therapeutics, we hardly knew ye. The biotech company, which was founded in 2007 as a spin-out of Isis Pharmaceuticals and Thomas, McNerney & Partners, shuttered its business after a Phase II trial of AIR645 for asthma flunked a mid-stage trial. While the drug was well-tolerated, it didn't show much benefit to patients. Isis re-acquired Altair's assets and company's seven employees have moved on to other companies.

Altair was spun out with the hope that it could take Isis' gene-silencing technology and apply it to respiratory ailments. In its three-year run, Altair raised $17 million from some big-name investors, including Domain Associates, AgeChem Venture Fund, Thomas McNerney & Partners, Forward Ventures and Isis, according to Xconomy. "We were disappointed," Isis spokesperson Amy Blackley told the news outlet. "The drug was well tolerated and showed signs of activity in early studies, but not enough clinical activity to warrant further development."

- read the full article at Xconomy