On May 18, 2009, Redpoint Bio Corporation (the "Company") announced a corporate restructuring that will reduce its workforce by 11 employees, or approximately 44%. With the loss of continuing revenue from Givaudan Schweiz AG ("Givaudan") as a result of the termination of the Company's collaboration with Givaudan, we believe the restructuring was a necessary means to reduce the Company's expenditures and conserve cash.

This reduction in workforce is consistent with the Company's current focus on advancing new approaches to the treatment of diabetes and obesity in an effort to enter into a partnering relationship in the near term. If the Company is unable to succeed in discovering new approaches to the treatment of diabetes and obesity and thus unable to enter into any partnering relationships, then it will consider all strategic alternatives, including, but not limited to, the acquisition of other businesses or assets, an orderly liquidation or sale of the Company. The press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in its entirety.

(d) Exhibits

Exhibit No.                                 Description

   99.1        Press release titled "Redpoint Bio Announces Workforce Reduction,"
               dated May 18, 2009.