- Arena Pharmaceuticals Inc ARNA and Aristea Therapeutics Inc have collaborated to develop RIST4721 for palmoplantar pustulosis (PPP) and other neutrophil-mediated diseases.
- RIST4721 is an oral CXCR2 antagonist being developed by Aristea.
- Under the terms of the agreement, Arena will pay upfront $60 million to Aristea and make a $10 million equity investment in Aristea's Series B financing.
- In return, Aristea has granted Arena an exclusive option to acquire Aristea, including rights to all CXCR2 programs, upon completing the Phase 2b study of RIST4721 in PPP.
- The agreement also provides a framework during the option period for the companies to jointly explore the development of other neutrophil-mediated diseases, including hidradenitis suppurativa (HS) and inflammatory bowel disease (IBD), potentially generating multiple data readouts during the option period.
- Price Action: ARNA shares closed at $61.32 on Tuesday.
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