Neurocrine Biosciences has entered into a definitive agreement to acquire Soleno Therapeutics, a biopharmaceutical company, for approximately $2.9 billion. The transaction is expected to be an all-cash deal, with Neurocrine Biosciences acquiring all outstanding shares of Soleno Therapeutics.

The acquisition aims to expand Neurocrine Biosciences' pipeline and therapeutic offerings. Soleno Therapeutics is known for its work in rare diseases, particularly in the development of treatments for Prader-Willi syndrome. This acquisition is anticipated to complement Neurocrine Biosciences' existing portfolio and strategic focus.

Financial details of the agreement indicate a valuation of $2.9 billion. Neurocrine Biosciences expects the transaction to close in the third quarter of 2024, subject to customary closing conditions, including regulatory approvals and the approval of Soleno Therapeutics stockholders.

Key Takeaways

• Neurocrine Biosciences is acquiring Soleno Therapeutics for approximately $2.9 billion.
• The deal is an all-cash transaction.
• The acquisition is expected to enhance Neurocrine Biosciences' drug pipeline, particularly in rare diseases.
• The transaction is anticipated to close in the third quarter of 2024.

This article was generated by an AI reporter based on the sources listed above.