Bayer Pharmaceuticals granted Dara BioSciences exclusive, worldwide rights to patents and compounds for the treatment of metabolic diseases.
In particular, the deal covers candidates for the treatment of type 2 diabetes and dyslipidemia. Lead compounds are in later preclinical development, according to the firms.
Dara BioSciences will develop and commercialize products. Bayer will receive an upfront payment, milestone fees, and royalties. In addition, Bayer has certain rights to commercialize products emanating from this program.
“DARA BioSciences' licensing-in of the Bayer technology demonstrates our commitment to exploring new alternatives in the treatment of metabolic diseases including diabetes,” states Richard A. Franco Sr., president and CEO. “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.”