Soleno Therapeutics Inc.
Neurocrine Biosciences to Acquire Soleno Therapeutics in $2.9 Billion Deal
Summary
Soleno Therapeutics, Inc. has entered into an Agreement and Plan of Merger with Neurocrine Biosciences, Inc., whereby Neurocrine will acquire all outstanding shares of Soleno for $53.00 per share in cash, totaling $2.9 billion. The acquisition aims to expand Neurocrine's portfolio in endocrinology and rare diseases, with Soleno's VYKAT XR, a treatment for hyperphagia in Prader-Willi Syndrome, expected to contribute to long-term revenue growth. The transaction is subject to customary closing conditions and regulatory approvals, with an expected closing within 90 days.
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About Soleno Therapeutics Inc.
Soleno Therapeutics Inc. is a biopharmaceutical company dedicated to the development and commercialization of novel therapeutics for rare diseases. Its primary focus lies on the treatment of genetic disorders that have a significant medical need, such as Prader-Willi syndrome, a complex condition that affects the musculoskeletal and endocrine systems. Soleno is committed to pioneering advancements in the pharmaceutical industry by leveraging innovative approaches to drug development. The company's lead treatment candidate, rooted in addressing metabolic and neurobehavioral abnormalities, plays a critical role within its pipeline. Soleno's research and development efforts are concentrated on improving patient outcomes through therapies that target underlying disease mechanisms. Based in Redwood City, California, Soleno Therapeutics Inc. actively collaborates with scientific communities and healthcare providers to enhance its therapeutic offerings. In the financial market, Soleno Therapeutics is notably positioned as part of the healthcare and biotechnology sectors, reflecting its significance in developing treatments that can transform patient care and address unmet medical needs in niche and complex disease areas.
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