Navigation Links
Cypress Bioscience Board of Directors to Review Unsolicited Tender Offer from Ramius LLC
Date:9/15/2010

SAN DIEGO, Sept. 15 /PRNewswire-FirstCall/ -- Cypress Bioscience, Inc. (Nasdaq: CYPB)  ("Cypress") today confirmed that Ramius LLC ("Ramius") has commenced an unsolicited tender offer to acquire all outstanding common shares of Cypress at a price of $4.25 per share in cash.

Consistent with its fiduciary duties and as required by applicable law, the Cypress Board of Directors will review the offer to determine the course of action that it believes is in the best interests of the Company and its stockholders.  Cypress stockholders are advised to take no action at this time pending the review of the tender offer by the Cypress Board of Directors.

Jefferies & Company, Inc. and Perella Weinberg Partners are serving as financial advisors to Cypress and Cooley LLP and Potter Anderson & Corroon LLP are serving as its legal advisors.

The Cypress Board of Directors, in consultation with its independent financial and legal advisors, intends to advise stockholders of its formal position regarding the offer within ten business days by making available to stockholders and filing with the Securities and Exchange Commission a solicitation/recommendation statement on Schedule 14D-9.

About Cypress Bioscience

Cypress Bioscience is a pharmaceutical company dedicated to the development of innovative drugs targeting large unmet medical needs for patients suffering from a variety of disorders of the central nervous system.  Since 1999, Cypress has received multiple FDA approvals, including for Prosorba™, a medical device for rheumatoid arthritis, and Savella® (milnacipran HCl), for fibromyalgia.  The Company focuses on generating stockholder value by reaching clinical development milestones as quickly and efficiently as possible.  Cypress' currently marketed products include Savella and the Avise PGSM and Avise MCVSMtherapeutic monitoring, diagnostic and prognostic testing services for rheumatoid arthritis.  Development-stage assets include CYP-1020 for cognitive impairment in schizophrenia, Staccato® nicotine for smoking cessation, intranasal carbetocin for autism, and AVISE-SLESM, a lupus diagnostic testing service.  More information on Cypress and its products and development assets is available at http://www.cypressbio.com.INVESTOR CONTACTS:MEDIA CONTACTS:MacKenzie Partners, Inc.

Joele Frank, Wilkinson Brimmer KatcherAmy Bilbija / Bob Marese

Sharon Stern / Dara Silverstein650-798-5206 / 212-929-5500

212-355-4449
'/>"/>

SOURCE Cypress Bioscience, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. SELECT TRIAL Used Selenomethionine Instead of High-Selenium Yeast, SelenoExcell(R) - Previous Research has Shown SelenoExcell(R) Supplementation to Reduce Lung, Colon and Prostate Cancers by as Much as 63%, Says Cypress Systems, Inc.
2. Forest Laboratories, Inc. and Cypress Bioscience, Inc. Announce Positive Results of Phase III Study of Milnacipran for the Management of Fibromyalgia
3. Alexzas Staccato® Nicotine Licensed to Cypress Bioscience
4. ImmuneRegen BioSciences Reports Material Transfer Agreement with VaxGen, Inc.
5. ImmuneRegen BioSciences, Inc. Demonstrates Radilex(TM) Increases Disease-Fighting White Blood Cells
6. Upstream Biosciences Acquires Innovative Platform Technology and Drug Candidates for Tropical Parasitic Diseases
7. Ardea Biosciences, Inc. Announces Completion of Phase 1 Clinical Trials of Novel Investigational HIV Drug RDEA806
8. Ardea Biosciences, Inc. Presents Results of Phase 1 Studies of RDEA806, a Novel NNRTI for HIV, at 47th ICAAC
9. Ardea Biosciences Lead MEK Inhibitor, RDEA119, to Enter Human Clinical Trials in Advanced Cancer Patients
10. Alacrity Biosciences Announces Positive Results from a Phase 2 Study of Its Dry Eye Treatment ALTY-0501
11. Sangamo BioSciences and Sigma-Aldrich Announce Nature Biotechnology Study Demonstrating Zinc Finger Technology for Modification of Human Stem Cells
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/30/2016)... 30, 2016 Eye expert s ... babies to seek an eye examination ...   Moorfields Eye Hospital Dubai, the first ... London , has identified premature babies as a special concern ... their particular vulnerability to retinopathy of prematurity (ROP). ROP is a ...
(Date:5/27/2016)... , May 27, 2016 ... innovative biopharma company focused on the highly lucrative ... a substantial pipeline of potential first-in-class or best-in-class ... are in development with strategic partners. HCM,s profitable ... fast-growing domestic market. We expect progress of the ...
(Date:5/26/2016)... , May 26, 2016 According to ... Waste Management Market - U.S. Industry Analysis, Size, Share, Growth, ... market in the U.S. was valued at US$ 5.89 Bn ... of 3.4% from 2015 to 2023 to reach US$ 7.99 ... of current and emerging needle free drug delivery devices and ...
Breaking Medicine Technology:
(Date:5/31/2016)... ... May 31, 2016 , ... ... Houston Healthconnect’s (Healthconnect) regional health information exchange, which enables physicians at SJMC’s two ... their patients from other participating organizations in the exchange. SJMC’s membership in the ...
(Date:5/31/2016)... ... May 31, 2016 , ... CallTrackingMetrics's ... advertising campaigns, to monitor the performance of sales and support staff, and to ... revenue. The software allows customers to record, transcribe, route, document, and report on ...
(Date:5/31/2016)... ... ... The Global Wellness Summit (GWS), an annual conference for international ... travel, spa and beauty in Europe. The organization asked its partner experts in Europe ... researchers - to forecast where wellness is headed in Europe. Predictions range from European ...
(Date:5/31/2016)... ... 2016 , ... Interest is on the rise for using the CRISPR-Cas9 system ... for RNAi hit validation. A key reason may be that high-throughput synthesis—combined with a ... RNA (crRNA) collections in arrayed formats. , Arrayed crRNA screens have ...
(Date:5/31/2016)... , ... May 31, 2016 , ... Dr. Charles A. ... Dentistry of New Jersey in the class of 1986, where he graduated in the ... at his current location in Livingston since 1989. He has been a member in ...
Breaking Medicine News(10 mins):