Just a week after pausing its leukemia trial following the death of a patient, Magenta Therapeutics is halting development of all programs and conducting a comprehensive strategic review of its business.
In a short statement posted on its website, Massachusetts-based Magenta said that, after reviewing its programs, resources and capabilities, the company will "explore potential strategic alternatives that may include, but are not limited to, an acquisition, merger, business combination, or other transaction."
Last week, a patient in the company's phase 1/2 dose-escalation trial — testing MGTA-117, an anti-CD117 antibody-drug — died from respiratory failure and cardiac arrest.
Magenta has not set a timetable for completion of its review process and says it won't comment further until its Board of Directors approves a definitive course of action.
