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news.Dara BioSciences and Bayer Pharmaceuticals have signed a license agreement granting Dara exclusive worldwide rights to a series of patents and compounds for the treatment of metabolic diseases, in particular type 2 diabetes and dyslipidemia.
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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 the development program.
Richard Franco, president and CEO of Dara BioSciences, said: “Dara BioSciences’s 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.”