Flemington biopharma company shuts down

Flemington-based biopharmaceutical company Arno Therapeutics Inc. dissolved itself during the last days of December, according to an announcement last month.

The company said in a Dec. 22 news release that it had sold substantially all of its assets, including the rights to Onapristone, which it sold to Context Biopharma Inc., with proceeds satisfying Arno’s outstanding liabilities.

The company leaders and a majority of stakeholders opted to liquidate the company, with the intent of satisfying creditors and winding down the business. Earlier in the year, the company had opted to cease the Onapristone development program.