UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): January 28, 2009
SYNVISTA
THERAPEUTICS, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-16043
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13-3304550
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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221
West Grand Avenue
Montvale,
New Jersey 07645
(Address
of principal executive offices and zip code)
Registrant’s
telephone number, including area code: (201) 934-5000
___________________________________
Former
name or former address, if changed since last report
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
8.01 OTHER EVENTS.
On January 28, 2009, Synvista
Therapeutics, Inc. (the “Company”) announced that, following a review of its
clinical development portfolio and its current financial status, the Board of
Directors and management have determined that it is in the best interest of the
Company to focus its resources on maximizing the value of its diagnostic assets
and to terminate all ongoing clinical trials of its product candidates
alagebrium and SYI-2074 as promptly as possible. The Company is
continuing to explore strategic alternatives in order to monetize its technology
assets, which may take the form of sales or licensing transactions with respect
to those assets. In light of the Company’s cash position and current
negative economic and capital markets conditions, if the Company is unable to
enter into such transactions in a timely manner, the Company’s ability to
continue operations beyond the second quarter of 2009 is in doubt.
A copy of the press release is attached
as Exhibit 99.1 and is incorporated herein by reference.
ITEM
9.01 FINANCIAL STATEMENTS AND EXHIBITS.
99.1
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Press
Release dated January 28, 2009.
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SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
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SYNVISTA
THERAPEUTICS, INC.
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Dated:
January 28, 2009
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/s/
Noah Berkowitz, MD,
PhD
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Noah
Berkowitz, M.D., Ph.D.
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President
and Chief Executive Officer
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EXHIBIT
INDEX
Exhibit Number
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Description |
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99.1
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Press
Release dated January 28,
2009.
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