Wednesday, December 15, 2010

Cypress Bioscience Acquired For $255M

San Diego-based Cypress Bioscience, a biopharmaceuticals firm focused on developing treatments for disorders of the central nervous system, has been acquired. According to Cypress, it is in a definitive merger agreement with Ramius V&O Acquisition LLC, an affiliate of Ramius LLC and affilaites of Royalty Pharma, in a deal worth approximately $255M in cash. Ramius will pay $6.50 per share in cash for Cypress. The offer is above an earlier, $4.00 per share offer from Ramius in July.