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:6/24/2016)... June 24, 2016  Consumers have taken a ... have placed more emphasis on patient outcomes. ... programs in the pharmaceutical industry have evolved beyond ... pharmaceutical companies are focusing on becoming more patient-oriented ... products and services that improve health. ...
(Date:6/24/2016)... 2016 Dublin ... addition of the " Global Markets for Spectroscopy ... This report focuses on the ... review, including its applications in various applications. The report ... includes three main industries: pharmaceutical and biotechnology, food and ...
(Date:6/24/2016)... SAN CLEMENTE, Calif. , June 24, 2016  American Respiratory ... testing company, is now able to perform sophisticated lung assessments in ... Medical Technologies , Inc. Patients are no longer ... to ndd,s EasyOne PRO ® , ARL patients like Jeanne R. ... testing done in the comfort of her own home. ...
Breaking Medicine Technology:
(Date:6/27/2016)... , ... June 27, 2016 , ... "FCPX editors can ... inside of Final Cut Pro X," said Christina Austin - CEO of Pixel Film ... Final Cut Pro X users can now reveal the media of their ...
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star rating to ... of individuals in the United States and Canada wear eyeglasses. Once considered to be ... vision and make a fashion statement. Even celebrities use glasses as a way of ...
(Date:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet supplements ... that was developed to enhance the health of felines. The formula is all-natural and ... main herbs in the PawPaws Cat Kidney Support Supplement Soft Chews are ...
(Date:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica ... Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs ... Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar ... M.D from the David Geffen School of Medicine at UCLA. He trained in Internal ... complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had ...
Breaking Medicine News(10 mins):