On June 26, 2025, the Issuer entered into an Agreement and Plan of Merger (the "Merger Agreement") with XOMA Royalty Corporation ("XOMA") and XOMA's wholly owned subsidiary XRA 3 Corp., a Delaware corporation ("Purchaser"), relating to, among other things, the merger of Purchaser with the Issuer in an all cash transaction, pursuant to a tender offer (the "Offer), with the Issuer surviving as a wholly owned subsidiary of XOMA. In connection with the Merger Agreement, VVC V, VAF V, VOA, VVC CAN and Vantage LP (collectively, the "Versant Stockholders") and certain other stock holders (each a "Stockholder" and together, the "Stockholders") entered into an Amended and Restated Offer to Purchase (the "Offer Agreement") with XOMA and Purchaser pursuant to which each Stockholder agreed, among other things, and subject to the terms and conditions of the Offer Agreement, to tender all of the shares of Common Stock held by such Stockholder in the Offer. The foregoing descriptions of the Merger Agreement and the Offer Agreement are qualified in their entirety by reference to the full text of such agreements. The Offer Agreement is included as Exhibit (a)(1)(E) of the Issuer's Schedule TO filed with the Commission on July 24, 2025. The Merger Agreement is included as Exhibit 2.1 of the Issuer's Current Report on Form 8-K, filed with the Commission on June 27, 2025. Both the Offer Agreement and the Merger Agreement are incorporated herein by reference. The Offer and related withdrawal rights expired on August 7, 2025, and as a result of the satisfaction of the Minimum Tender Condition (as defined in the Offer Agreement) and each of the other conditions to the Offer, on August 11, 2025, Purchaser accepted for payment all Common Stock that was validly tendered (and not properly withdrawn) pursuant to the Offer. The Versant Stockholders aggregately tendered 3,381,692 shares of Common Stock, which constituted all of each of their respective shares of Common Stock of the Issuer in the Offer for the right to receive (a) a cash payment of $0.34 per share (the "Cash Amount") and (b) one non-transferable contractual contingent value right representing the right to receive any applicable milestone payment if specified milestones are achieved. Following the consummation of the Offer, the remaining conditions to the merger set forth in the Merger Agreement were satisfied, and on August 11, 2025, Purchaser was merged with and into the Issuer, with the Issuer surviving the merger as a wholly owned subsidiary of XOMA. The terms of the Offer are described more fully in the Issuer's Current Report on Form 8-K (the "Form 8-K") (File No. 001-41747) filed with the Commission on August 11, 2025, and the above summary is qualified by reference to such description and the full text of the Form 8-K, which is filed as Exhibit 9 to this Amendment and is incorporated herein by reference.