ARYx Therapeutics, Inc. (NASDAQ:ARYX) today regretfully announced it
will not be able to present at the Jefferies 2nd
Annual Healthcare Conference in New York City on June 25, 2008. The
company is working with its partner Procter & Gamble Pharmaceuticals
(P&G) to finalize their analyses and reach a mutual conclusion about the
results of a Thorough QT (TQT) study of ATI-7505, a prokinetic agent in
Phase 2 clinical development. It is expected this work will be concluded
within the next two weeks and, until that time, ARYx will not be in a
position to disclose any other details about the TQT study or the
ATI-7505 program. ARYx welcomes questions about any of its other
products in development.
About ARYx Therapeutics
ARYx Therapeutics is a biopharmaceutical company focused on developing a
portfolio of internally discovered products designed to eliminate known
safety issues associated with well-established, commercially successful
drugs. ARYx uses its RetroMetabolic Drug Design(TM) technology to design
structurally unique molecules that retain the efficacy of these original
drugs but are metabolized through a potentially safer pathway to avoid
specific adverse side effects associated with these compounds. ARYx
currently has three products in Phase 2 clinical trials: a prokinetic
agent for the treatment of various gastrointestinal disorders, ATI-7505;
an oral anticoagulant agent for patients at risk for the formation of
dangerous blood clots, ATI-5923; and, an oral anti-arrhythmic agent for
the treatment of atrial fibrillation, ATI-2042. A fourth product for the
treatment of schizophrenia and other psychiatric disorders, ATI-9242, is
in Phase 1 clinical trials. Please visit our web site at www.aryx.com
for additional information.
Forward-Looking Statement
This press release contains forward-looking statements, including,
without limitation, statements related to the timing and availability of
our clinical results, the initiation of new clinical trials, the
potential efficacy and commercial potential of ATI-7505, the completion
of preclinical work, the ability of preclinical packages to lead to
further clinical trials, our ability to enter into collaboration
agreements with respect to our product candidates, the ability of a
product candidate to be more predictable than currently available
therapies regarding dosing and response to treatment, and the ability of
a product candidate to avoid the dangers existing in currently available
therapies. Words such as "is expected," "will," and similar expressions
are intended to identify forward-looking statements. These
forward-looking statements are based upon our current expectations.
Forward-looking statements involve risks and uncertainties. ARYx's
actual results and the timing of events could differ materially from
those anticipated in such forward-looking statements as a result of
these risks and uncertainties, which include, without limitation, the
risk that collaborative arrangements will likely place the development
of our product candidates outside of our control, the risk that we may
have to alter our development and commercialization plans if
collaborative relationships are not established for ATI-5923 and
ATI-2042, the risk that our product candidates may not demonstrate
safety and efficacy or lead to regulatory approval, the risk that we may
be unable to raise additional capital when needed which would force us
to delay, reduce or eliminate product development programs, the risk
that any failure or delay in commencing or completing clinical trials
for our product candidates could severely harm our business, and the
risk that third party manufacturers could delay or prevent the clinical
development of our product candidates. These and other risk factors are
discussed under "Risk Factors" and elsewhere in our Quarterly Report on
Form 10-Q for the quarter ended March 31, 2008. ARYx expressly disclaims
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein.
ARYx Therapeutics, Inc.
David Nagler, 510-585-2200 ext. 211
Vice
President Corporate Affairs
dnagler@aryx.com
