Cycle Pharmaceuticals to acquire Vanda Pharmaceuticals for $100m.

Cycle Pharmaceuticals, a developer of rare disease therapies, offered to acquire Vanda Pharmaceuticals, a biopharmaceutical company focused on the development and commercialization of innovative therapies, for $100m. “We are confident that our $8 per share, all-cash proposal maximizes value and would deliver immediate, compelling and certain cash value for Vanda shareholders. We urge Vanda shareholders to express their views on this proposal to the independent directors of the Vanda Board of Directors. We stand ready to work immediately with Vanda’s Board and management team to reach an agreement that would provide a compelling premium and certain cash value today for all Vanda shareholders," Cycle Pharmaceuticals.