Plus, news about Gilead Sciences and Yuhan:
Vanda gets second unsolicited offer: Cycle Group Holdings again submitted a proposal to buy Vanda for $8 per share in cash. Vanda, which is currently trading at about $4.87 $VNDA per share, rejected Cycle’s offer of the same size in May. It later received an FDA rejection for a gastrointestinal treatment in September. — Kyle LaHucik
Ocean Biomedical, Molecure ink deal: The Rhode Island-based company will pay up to $32 million for access to Molecure’s preclinical YKL-40 inhibitor, called OAT-3912, and other inhibitors in that class. Molecure gets $600,000 in cash and stock to start. — Kyle LaHucik
Gilead Sciences, Yuhan terminate deal: The companies “mutually agreed” to end an agreement first inked in 2019 to develop a pair of MASH therapies, according to a Gilead spokesperson. At the time, Gilead had paid $15 million upfront and promised up to $770 million in milestones. — Jaimy Lee