DARA owners acquire troubled Point Therapeutics

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 on the deal
- here's the report from the Boston Business Journal

Related Articles:
More cuts at troubled Point Therapeutics. Report
Is Point finished? Report
Bad news for Point Therapeutics. Report

Read more on: Point Therapeutics