ARYx Therapeutics says that Procter & Gamble surprisingly dropped out of a pact to develop an experimental therapy for chronic constipation and dyspepsia. An AP report notes that ARYx had been scheduled to discuss data on ATI-7505 but canceled the presentation, explaining that it needed to discuss the data with P&G. Late last night ARYx said the therapy had successfully passed a safety study assessing cardiovascular risks. A mid-stage trial of the therapy is ongoing.
"We are surprised P&G would cancel our collaboration after receiving the results of the TQT (safety) study given that we achieved a successful result at the study's primary endpoint, and are disappointed in their decision to return the rights to ATI-7505 to us," said ARYx CEO Dr. Paul Goddard. "We have been informed by P&G their decision is based on their view of certain commercial and technical criteria, and that the program no longer fits into their future plans."
ARYx says the ongoing trial will be terminated but expects the therapy will return to the clinic once a new partner is found.
- see ARYx's release
- read the AP report