San Diego-based biopharmaceutical company Neurocrine has agreed to acquire Soleno Therapeutics, a California-based biotech company focused on rare diseases, for $2.9 billion. The acquisition includes Soleno's drug VYKAT XR (diazoxide choline), which won FDA approval in 2025 as the first treatment for hyperphagia, persistent hunger, associated with Prader-Willi syndrome. This move signals a shift from a neuroscience specialist to a more diversified player with exposure to high-growth therapeutic areas. The transaction is expected to close within 90 days.