Sec­ond time’s the charm? Cy­cle­ri­on CEO tries again at buy­ing biotech's as­sets

As the re­serves run dry, Cy­cle­ri­on Ther­a­peu­tics is look­ing for a way to keep its drug de­vel­op­ment am­bi­tions alive, and the biotech’s board is giv­ing the CEO and his group of in­vestors a sec­ond shot at ac­quir­ing as­sets.

The Cam­bridge, MA biotech said no to CEO Pe­ter Hecht’s bid last No­vem­ber for the Iron­wood spin­out’s CNS as­sets CY6463 (now named zago­ciguat) and CY3018. This time around, the board’s in­de­pen­dent mem­bers looked at a new non-bind­ing pro­pos­al from March 17 from “an en­ti­ty formed by in­vestors” that in­clude Hecht and have de­cid­ed it “mer­its fur­ther pur­suit.”

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