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Soleno to relinquish Capnia subsidiary
January 2018
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REDWOOD CITY, Calif.—Soleno Therapeutics Inc. and Capnia Inc., its wholly owned subsidiary, have established a joint venture agreement with OptAsia Healthcare Limited (OAHL) to develop and commercialize Capnia’s Sensalyze technology. This technology includes the CoSense End-Tidal Carbon Monoxide monitor, which helps detect excessive hemolysis in neonates, as well as related products. This agreement precedes changes for all three organizations—OAHL will invest up to $2.2 million in tranches to buy shares of Capnia, after which Capnia will cease to be a subsidiary of Soleno and instead OAHL will be responsible for funding its operations.
 
“The completion of this transaction focuses our business solely on the development of rare disease therapeutics with diazoxide choline controlled-release being the lead asset,” said Dr. Anish Bhatnagar, CEO of Soleno. “This JV allows the financing of further development of CoSense and related assets by OAHL, while providing the possibility of delivering future value to Soleno.”

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