SOURCE: BioMedReports


February 03, 2011 07:01 ET

DARA BioSciences CEO Says Big Pharma Is Interested in Company's Phase II Drug Candidate

LOS ANGELES, CA--(Marketwire - February 3, 2011) - Richard Franco, the Chairman and Chief Executive Officer of DARA BioSciences (NASDAQ: DARA), a biopharmaceutical development company in the business of acquiring promising therapeutic candidates, developing them through proof of concept in humans and subsequently selling or out-licensing them to larger pharmaceutical players, says his company's Phase II drug candidate is getting attention, just as he planned it.

"Big phrama is interested in us," says Franco. "We started the process of putting KRN5500 out there as an out-license candidate. We have a number of companies, right now, doing deep due diligence. We have a virtual due diligence room. There are companies both big and medium sized, both international and domestic that are looking at KRN5500 right now."

DARA, working together with the National Cancer Institute, is targeting KRN5500 for the treatment and prevention of neuropathic pain in cancer patients, in particular, chemotherapy-induced neuropathic pain. There are currently no approved marketed medicines for this indication and as such represents a largely untapped market for new therapies.

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