DARA BioSciences is buying out Point Therapeutics, which stumbled badly after the FDA put its cancer therapy, talabostat, on hold. Wellesley, MA-based Point Therapeutics, which was facing a de-listing, had already slashed its workforce in an effort to cut costs. In the merger deal, DARA stockholders will own 96.4 percent of the new company, which will be called DARA and will be based in Raleigh.
- check out the release [1] on the deal
- here's the report [2] from the Boston Business Journal
Related Articles:
More cuts at troubled Point Therapeutics. Report [3]
Is Point finished? Report [4]
Bad news for Point Therapeutics. Report [5]
Read more on: Point Therapeutics [6]
Links:
[1] http://www.fiercebiotech.com/press-releases/press-release-dara-biosciences-acquire-point-therapeutics
[2] http://boston.bizjournals.com/boston/stories/2007/10/08/daily34.html
[3] http://www.fiercebiotech.com/story/more-cuts-troubled-point-therapeutics/2007-07-27
[4] http://www.fiercebiotech.com/story/spotlight-is-point-finished/2007-07-12
[5] http://www.fiercebiotech.com/story/more-bad-news-for-troubled-point-therapeutics/2007-05-31
[6] http://www.fiercebiotech.com/tags/point-therapeutics