InvestorsHub Logo
Followers 13
Posts 1714
Boards Moderated 3
Alias Born 08/10/2000

Re: None

Wednesday, 10/17/2007 7:51:41 AM

Wednesday, October 17, 2007 7:51:41 AM

Post# of 72830
POTP -DARA BioSciences, Inc. and Bayer Pharmaceuticals Corporation (BPC), a U.S.
subsidiary of Bayer HealthCare AG signed a license agreement granting DARA
BioSciences exclusive worldwide rights to a series of patents and compounds
for the treatment of metabolic diseases, in particular type 2 diabetes and
dyslipidemia. Lead compounds are in later preclinical development.

Under the terms of the agreement DARA BioSciences will develop and
commercialize products while Bayer will receive an upfront payment, milestone
payments and royalties during the development and commercialization. In
addition, Bayer has certain rights to commercialize products emanating from
this development program.

Richard A. Franco, Sr., President and Chief Executive Officer, stated, "DARA
BioSciences' licensing-in of the Bayer technology demonstrates our commitment
to exploring new alternatives in the treatment of metabolic diseases
including diabetes. This transaction also demonstrates our continuing
success in executing our strategy to identify new opportunities in order to
expand and diversify our product portfolio. We look forward to the
opportunity to work with Bayer."

The WHO estimates that globally over 170 million people have diabetes. Type
2 diabetes accounts for 90% to 95% of all cases of diabetes. Worldwide the
costs associated with treating diabetes and its complications are estimated
to exceed $200 billion a year. By 2030 the prevalence of diabetes is
predicted to double, driven by adverse lifestyle changes which have seen an
explosion in the incidence of obesity, a risk factor for type 2 diabetes.
Worldwide, diabetes is a huge and growing problem for which new treatments
are needed.
<<
About Bayer HealthCare
>>

The Bayer Group is a global enterprise with core competencies in the fields
of health care, nutrition and high-tech materials. Bayer HealthCare, a
subsidiary of Bayer AG, is one of the world's leading, innovative companies
in the healthcare and medical products industry and is based in Leverkusen,
Germany. The company combines the global activities of the Animal Health,
Consumer Care, Diabetes Care and Pharmaceuticals divisions. Bayer
HealthCare's aim is to discover and manufacture products that will improve
human and animal health worldwide. Find more information at
www.bayerhealthcare.com.
<<
About DARA BioSciences, Inc.
>>

DARA BioSciences(TM), Inc. ("DARA") is a Raleigh, North Carolina-based
development-stage pharmaceutical company that acquires promising therapeutic
molecules and medical technologies directly or through investment in
established companies. DARA focuses its therapeutic development efforts on
small molecules from late preclinical development through phase 2 clinical
trials. DARA is developing a portfolio of therapeutic candidates for
neuropathic pain, metabolic diseases including type 2 diabetes, and
dermatological disorders. On October 10, 2007, DARA announced an agreement
to merge with Point Therapeutics, Inc. (Nasdaq: POTP).

For more information please contact DARA at 919-872-5578 or visit our web
site at www.darabiosciences.com.

Please Note: This press release contains forward-looking statements
regarding future events. These statements are just predictions and are
subject to risks and uncertainties that could cause the actual events or
results to differ materially. These risks and uncertainties include risks of
testing of drugs for proof of principle, risks of regulatory review and
clinical trials, competition, market acceptance for approved products, if
any, and intellectual property risks.

SOURCE: DARA BioSciences, Inc.

SOURCE: Bayer Pharmaceuticals Corporation
John Didsbury, Ph.D., Chief Scientific Officer, +1-919-861-0198, or Lynn H.
Morris,
Sr. Manager, Investor Relations & Corporate Operations, +1-919-872-5578, both
of
DARA BioSciences; Meredith Fischer, Corporate Communications, Bayer Healthcare
Pharmaceuticals, +1-203-812-6485 Web Site: http://www.darabiosciences.com
http://www.bayerhealthcare.com/
Copyright (C) 2007 CNW Group. All rights reserved.
**********************************************************************
As of Saturday, 10-13-2007 23:59, the latest Comtex SmarTrend Alert,
an automated pattern recognition system, indicated a DOWNTREND on
06-05-2006 for POTP @ $2.89.
For more information on SmarTrend, contact your market data
provider or go to www.mysmartrend.com
SmarTrend is a registered trademark of Comtex News Network, Inc.
Copyright 2004-2007 Comtex News Network, Inc. All rights reserved.
*** end of story ***

"i'm just a happyidiot,struggling for that legal tender" jackson brown>

Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.