DARA BioSciences of Raleigh has signed a license agreement with Bayer Pharmaceuticals granting DARA exclusive worldwide rights to a series of patents and compounds for the treatment of type 2 diabetes and dyslipidemia and other metabolic diseases.
Under the terms of the agreement DARA will develop and commercialize products while Bayer will receive an upfront payment, milestone payments and royalties during the development and commercialization. In addition, Bayer has certain rights to commercialize products emanating from this development program.
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