Furiex Pharmaceuticals Inc. (FURX), the drug developer whose irritable bowel treatment is moving toward regulatory approval, is working with Bank of America Corp. to find a buyer, people with knowledge of the matter said. Now that the medicine has met targets developed in conjunction with U.S. and European regulators, management believes there is less risk for buyers and has begun contacting other drugmakers to gauge their interest in a deal, said two of the people, who asked not to be named because the Morrisville, North Carolina-based company’s plans are private. Furiex’s experimental treatment eluxadoline alleviated diarrhea and abdominal pain caused by irritible bowel syndrome in two studies, the last of three rounds generally needed for regulatory clearance.

About Furiex Pharmaceuticals

Furiex Pharmaceuticals, Inc. is a drug development collaboration company using innovative clinical development strategies to accelerate and increase the value of partnered drug programs by advancing them through development in a cost-efficient manner. As the biopharmaceutical industry faces increased R&D spending with fewer successful therapies reaching the market, Furiex offers a new approach to help drug developers lower development costs and deliver products to the market more efficiently. Visit the Furiex website