Vanda Pharmaceuticals Inc. announced on January 8 2026 that it has completed a definitive merger agreement with Exante Data Inc., creating a combined entity that will offer a comprehensive suite of high‑frequency positioning data and macro‑strategy analytics. The transaction closed on the same day, with Vanda acquiring all outstanding shares of Exante and appointing founder Jens Nordvig to the combined company’s board as President.
The merger is designed to fuse Vanda’s market‑leading tactical positioning capabilities with Exante’s expertise in capital‑flow analysis and macro‑strategy, producing a cross‑asset analytics platform that will serve hedge funds, sovereign wealth funds, and central banks. The combined platform is expected to accelerate the launch of Vanda Analytics, a digital macro‑strategist slated for release later in 2026, and to leverage AI technology at speed to deliver bespoke agentic solutions to a global client base.
Vanda’s recent financial performance underscores the strategic fit of the deal. Revenue grew from $47.7 million in Q3 2024 to $52.6 million in Q2 2025, a 23 % year‑over‑year increase driven by Fanapt and Nereus. Despite the revenue growth, the company has posted net losses due to significant investments in research and development and commercialization. The merger will provide additional scale and capital to support Vanda’s pipeline, including the ongoing development of HETLIOZ and other CNS therapies.
CEO Angus Hume said the merger “positions Vanda to deliver a truly differentiated data‑analytics offering that combines the best of high‑frequency data and macro‑strategy.” Jens Nordvig added that the partnership “creates a unique platform that will enable sophisticated investors to capture opportunities across all asset classes.” Both executives emphasized that the combined entity will accelerate product development and expand its market reach.
The transaction is expected to generate economies of scale in sales, marketing, product engineering, and operations, while positioning the combined company to capture new revenue streams from institutional clients seeking integrated data solutions. The merger also strengthens Vanda’s competitive moat by adding Exante’s proprietary flow‑analytics technology, which complements Vanda’s existing data infrastructure and supports the company’s long‑term growth strategy.
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