Navigation Links
DARA BioSciences, Inc. and Point Therapeutics, Inc. Announce Consummation of Merger
Date:2/12/2008

RALEIGH, N.C. and WELLESLEY HILLS, Mass., Feb. 12 /PRNewswire/ -- DARA BioSciences, Inc. ("DARA") and Point Therapeutics, Inc. ("Point") (Nasdaq: POTP) announced the consummation of their merger transaction, effective as of the close of business on February 12, 2008.

The merger was completed after approval by the respective stockholders of DARA and Point. Immediately prior to the consummation of the merger, Point effected a reverse stock split of its common stock pursuant to which each 40 shares of Point common stock issued and outstanding was converted into one share of Point common stock. As a result of the merger, DARA stockholders will receive 1.031406 shares of Point common stock for each share of DARA common stock and preferred stock held immediately prior to the transaction.

In making the announcement, DARA's Chairman Richard A. Franco, Sr., commented, "We are pleased to have completed this transaction and appreciate the confidence of the stockholders of DARA and Point as evidenced by their votes."

Upon consummation of the merger, DARA became a wholly-owned subsidiary of Point, and Point changed its name to DARA BioSciences, Inc. The combined company's common stock will continue to trade on the NASDAQ Capital Market under the symbol "DARA ". Additionally, the Board of Directors and executive officers of DARA will lead the combined company.

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. DARA has licensed promising drug development candidates from Kirin Pharmaceuticals of Japan, Bayer Pharmaceuticals Corporation, Massachusetts General Hospital and Nuada LLC.

As of February 13, 2008, DARA will trade on the NASDAQ Capital Market under the ticker symbol "DARA".

For more information please contact the Company at 919-872-5578 or visit our web site at http://www.darabiosciences.com.


'/>"/>
SOURCE DARA BioSciences, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Pressure BioSciences, Inc. Reports Third Quarter 2007 Financial Results and Provides Business Update
2. Pressure BioSciences, Inc. to Discuss Third Quarter Financial Results and Provide Business Update
3. Akers Biosciences, Inc. ABI or the Company Receipt of Further United States Military Contracts
4. Jill Birkett Appointed Event Director for HBA Global Expo
5. USHEALTH Group Announces Appointment of Executive Vice President
6. ScienceBased Health Appoints Anne L. Coleman, MD, PhD to Scientific Advisory Board
7. Protalix BioTherapeutics Appoints Professor Roger D. Kornberg to Board of Directors
8. AMN Healthcare Appoints Hala Moddelmog to Its Board of Directors
9. Natural Alternatives International, Inc. Appoints New Chief Financial Officer
10. Deerfield Spa Appoints New Fitness Director
11. Memory Pharmaceuticals Appoints Vaughn M. Kailian Interim President & Chief Executive Officer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... ... December 02, 2016 , ... Advanced Inc., a leading provider of ... Bice, CPA, MBA to serve as Advanced Inc.’s Chief Financial Officer, effective December 1, ... Jason brings extensive financial and operational leadership experience to Advanced Inc. He began his ...
(Date:12/2/2016)... ... December 02, 2016 , ... The annual time frame to change Medicare health ... is ending December 7th. Currently-enrolled Medicare beneficiaries who are looking to switch from their ... D) need to make changes during this period order for their new policy to ...
(Date:12/2/2016)... NY (PRWEB) , ... December 02, 2016 , ... ... an inspirational interview of two ostomy patients, standing as living proof that attitude ... suffer from digestive diseases and issues that spike around the holidays. This campaign ...
(Date:12/2/2016)... ... December 02, 2016 , ... ... "Cardiovascular Health" in USA Today, which covers the innovative treatments, therapeutic technologies, and ... maintaining fulfilling lives. “We are prolonging life 6 years in the last 3 ...
(Date:12/2/2016)... ... 2016 , ... Universal Medical Systems, Inc. (UMS) the world's ... to offer robotic imaging to veterinary medicine is sponsoring the appearance of Millennia, ... American Association of Equine Practitioners 62nd Annual Convention from December 4-6, 2016 in ...
Breaking Medicine News(10 mins):
(Date:12/2/2016)... , Dec. 2, 2016  LifeVac, the revolutionary ... included in the Emergency Response Training and Support Services ... excited to have LifeVac become part of the ERTSS ... Founder and CEO of LifeVac. "Having an established network ... and effectively will help leverage our efforts to spread ...
(Date:12/2/2016)... India , December 2, 2016 ... report "In Vitro Diagnostics/IVD Market by Product (Instruments, ... Hematology), Application (Diabetes, Oncology, Cardiology, Nephrology, Infectious Diseases) ... global market is valued at USD 60.22 Billion ... at a CAGR of 5.5% during the forecast ...
(Date:12/2/2016)... 2, 2016 In the first ever attempt ... those derived from C. sativa, the Hebrew University in ... Napoli Federico II , the Universita` del Piemonte Orientale ... critical, integrated and unified inventory of phytocannabinoids of different ... on the remarkable chemical and structural diversity of phytocannabinoids. ...
Breaking Medicine Technology: