Soleno Therapeutics, a Neurocrine Biosciences company, focuses on the treatment of rare diseases by identifying, developing, and commercializing novel therapeutics. Its lead commercial program addresses Prader-Willi syndrome (PWS), which occurs in approximately one in every 15,000 live births. One of the common symptoms of PWS is hyperphagia, a chronic and life-threatening condition characterized by an intense, persistent sensation of hunger.
In 2025, Soleno’s lead product, VYKAT XR (diazoxide choline) extended-release tablets, became commercially available in the U.S. The oral tablets are designed to treat hyperphagia in adults and children four years of age and older with PWS. VYKAT XR is the first approved therapy to address hyperphagia in individuals with PWS, marking a significant milestone for the PWS community, which previously lacked access to treatment options.
Goal: From its inception, Soleno set its sights on the development and commercialization of novel treatments to help patients with various diseases.
Process: From its earliest days, the company retained Wilson Sonsini to advise on all of its lifecycle needs, beginning with its formation, through its venture-backed start-up phase, and on to becoming a public company. Led by Elton Satusky, the Wilson Sonsini team guided Soleno through private financing rounds and numerous commercial transactions before leading the company to a successful IPO in 2014.
Through its growth and maturation as a public company, Soleno’s relationship with Wilson Sonsini expanded. Elton served as outside general counsel while Wilson Sonsini’s multidisciplinary team advised on a broad range of matters including venture financings, PIPEs, public equity offerings, technology licensing, employee benefits and compensation, data privacy, cybersecurity, securities litigation, and regulatory compliance. This relationship further strengthened when Wilson Sonsini alumnus Jesse Schumaker became Soleno’s in-house general counsel in 2024.
When an acquisition opportunity emerged, Soleno once again turned to Wilson Sonsini to navigate the process. The firm’s deep network in the biomedical field and extensive experience structuring the right deals for its clients helped ensure a smooth and efficient transaction.
Outcome: In May 2026, Neurocrine Biosciences completed the acquisition of Soleno in a transaction valued at $2.9 billion.
The acquisition brings together two companies with a shared commitment to delivering life-changing treatments for rare diseases. Soleno has joined Neurocrine to continue identifying, developing, and commercializing novel therapeutics, now backed by Neurocrine’s established leadership in endocrinology and rare disease.
“Wilson Sonsini’s deep experience in advising companies on all of their key inflection points—as a trusted advisor and long-term embedded adjunct to the management team—from formation to exit, was instrumental in guiding us through every stage of our own evolution and the natural challenges that came with developing and commercializing a transformative therapy for patients and families. We are grateful for our long-standing partnership with Wilson Sonsini through the years.”
Anish Bhatnagar – Former Chairman and CEO of Soleno
