DARA BioSciences Reports Management Changes
RALEIGH, N.C., Dec. 7, 2011 (GLOBE NEWSWIRE) -- DARA BioSciences, Inc. (DARA) reported today that Richard A. Franco, Sr. will retire as Chairman, President and Chief Executive Officer and as a director effective as of December 16, 2011. David J. Drutz, M.D., who is currently a member of the company's board of directors, has been appointed to serve as the Company's Interim Chief Executive Officer.
About DARA BioSciences, Inc.
DARA is a clinical stage pharmaceutical development company that acquires high quality, promising therapeutic molecules in early stage development (late pre-clinical or Phase 1). Acquired molecules have the potential to fill significant medical needs and represent large commercial opportunities for participation in large and growing markets. DARA expedites development through proof-of-concept in humans (prior to Phase 3) for subsequent partnering, sale or out-licensing to large healthcare and pharmaceutical companies. The effective implementation of this strategy has the potential to greatly enhance sustainable, long-term value for our shareholders.
Presently, DARA has two (2) lead drug candidates advancing through clinical trials. The first is KRN5500 for the treatment of neuropathic pain in patients with cancer, which has successfully completed a Phase 2a study and has been designated as a Fast Track Drug by the United States Food and Drug Administration (FDA). The second is DB959 for the treatment of type 2 diabetes and dyslipidemia which has reported positive results from completed Phase 1a and 1b studies and is entering Phase 2.
DARA also has three promising pre-clinical drug candidate programs for future development and monetization which include:
DB160 is a lead dipeptidylpeptidase (DPPIV) inhibitor from a family of DPPIV inhibitors. DPPIV is an enzyme that inactivates a key hormone involved in promoting control of blood sugar levels, thus giving people with diabetes better control of their blood sugar levels. Studies have demonstrated that potent DPPIV inhibitors may also be beneficial for stem cell transplantation and cancer targets.
DB900 is a series of compounds which are PPAR-g/a/d agonists for the treatment of type 2 diabetes and inflammatory diseases. These compounds activate genes involved in the metabolism of sugars and fats, thereby improving the body's ability to regulate blood sugar. As such, they have the potential to raise HDL 'good' cholesterol, lower LDL 'bad' cholesterol, lower triglycerides, and facilitate weight loss.
DB200 is a series of compounds that inhibit the enzyme carnitine palmitoyltransferase-1 (CPT-1) for the topical treatment of psoriasis. These drug candidates have the potential to inhibit inflammation and the proliferation of skin cells, thus resulting in decreased reddening and flaking of the skin.
CONTACT: Investor Contact: Cameron Associates, Inc. Kevin McGrath 212.245.4577 Kevin@cameronassoc.comSource: DARA BioSciences, Inc. 2011 GlobeNewswire, Inc.