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DARA BioSciences, Inc. Announces New Officer and Director Appointments

2008-03-26 01:16 2724

RALEIGH, N.C., March 26 /Xinhua-PRNewswire/ -- DARA BioSciences(TM) (Nasdaq: DARA) announced today the appointment of John Didsbury, Ph.D. as President and Chief Operating Officer. Dr. Didsbury has served as DARA's Chief Scientific Officer since November 2006. Dr. Didsbury previously served as President and CEO of Nuada Pharmaceuticals, Inc. Dr. Didsbury replaces Richard A. Franco, who notified the Board of Directors on March 21, 2008 of his decision to resign.

The Company also announced today the re-appointment of Steve Gorlin to the Board of Directors and the appointment of Steve Gorlin and Thomas W. D'Alonzo as Co-Chairmen of the Board of Directors. Mr. Gorlin was a founder of DARA and previously served as a director. Mr. Gorlin currently serves as Chairman of the Board for NTC China and MiMedx, Inc. (OTC BB: AYXC.OB) and is a member of the board of Surgi-Vision, Inc. From 1998 to 2003, Mr. Gorlin served on the Business Advisory Council to The Johns Hopkins School of Medicine and currently sits on the board of The Johns Hopkins Alliance for Science and Technology Development. Mr. D'Alonzo has served as a member of DARA's Board since 2005, and has served as Chief Executive Officer and a member of the Board of Directors of MiMedx, Inc. He is also currently a Director of Salix Pharmaceuticals, Inc. (NASDAQ: SLXP), BioDelivery Sciences, Inc. (NADSAQ: BDSI), Amarillo BioSciences, Inc. (OTCBB: AMAR.OB), and Plexigen, Inc. Mr. Gorlin was re-appointed to the Board to fill a vacancy created by Mr. Franco's resignation.

Thomas D'Alonzo commented, "It is a pleasure to announce John's appointment as President of DARA. John has a deep understanding of the science behind the drugs in DARA's pipeline in addition to experience running a company. We believe the combination of his talents as a scientist and a leader make him ideally suited to assume the role of DARA's President. At the same time, we are deeply indebted to Richard Franco for his service to the Company, particularly his leadership and skill in consummating the recent merger with Point Therapeutics. We wish Richard well in his future endeavours."

Mr. D'Alonzo also stated, "We are also pleased that Steve Gorlin has agreed to re-join our Board. Steve has recently been involved in time-consuming projects for other companies, but has graciously agreed to return to the DARA Board during this exciting period as we transition to Dr. Didsbury's leadership."

Dr. Didsbury commented, "It is a privilege to assume the role of DARA's President. I'm excited about DARA's product pipeline and look forward to leading the Company as it advances the development of drugs with the potential to meaningfully improve the lives of patients suffering from ailments like neuropathic pain, type 2 diabetes, and psoriasis. Steve Gorlin brings a wealth of industry knowledge and relationships with his return to the Board, and we are fortunate to have Steve and Tom's leadership as Co-Chairmen to help guide DARA's strategy and direction going forward."

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

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

All statements in this news release that are not historical are forward-looking statements within the meaning of the Securities Exchange Act of 1934 as amended. Such forward-looking statements are subject to factors that could cause actual results to differ materially for DARA from those projected. Those factors include risks and uncertainties relating to the company's ability to develop and bring new products to market as anticipated, the current regulatory environment in which the company develops and sells its products, the market acceptance of those products, dependence on partner, successful performance under collaborative and other commercial agreements, competition, the strength of DARA's intellectual property, the intellectual property of others and other risk factors identified in the documents DARA has filed, or will file, with the Securities and Exchange Commission. Copies of DARA's filings with the SEC may be obtained from the SEC Internet site at http://www.sec.gov. DARA expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward- looking statements contained herein to reflect any change in DARA's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. DARA BioSciences and the DARA logo are trademarks of DARA BioSciences, Inc.

Source: DARA BioSciences
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