After Lianbio Co. Ltd. turned away a $465 million acquisition offer from Concentra Biosciences LLC, the China and U.S.-based biotech announced it was selling off its assets and shutting down the company.
After Lianbio Co. Ltd. turned away a $465 million acquisition offer from Concentra Biosciences LLC, the China and U.S.-based biotech announced it was selling off its assets and shutting down the company.
Following its acquisition of Jounce Therapeutics Inc. for $95.6 million, Concentra Biosciences LLC lodged another proposal to acquire the U.S. and China biotech Lianbio Co. Ltd. The unsolicited and non-binding proposal filed Nov. 30 by San Diego-based Tang Capital Partners LP, Concentra’s parent firm, offered a 100% cash equity acquisition of the Shanghai- and Princeton, N.J.-based Lianbio at $4.30 per share, ringing up a deal worth around $465 million.
Following its acquisition of Jounce Therapeutics Inc. for $95.6 million, Concentra Biosciences LLC lodged another proposal to acquire the U.S. and China biotech Lianbio Co. Ltd. The unsolicited and non-binding proposal filed Nov. 30 by San Diego-based Tang Capital Partners LP, Concentra’s parent firm, offered a 100% cash equity acquisition of the Shanghai- and Princeton, N.J.-based Lianbio at $4.30 per share, ringing up a deal worth around $465 million.
Jounce Therapeutics Inc. is leaving Redx Pharma plc at the altar after deciding instead to merge with Concentra Biosciences LLC. In late February, Jounce had said it planned to merge with Redx in an all-share transaction that would have created a $425 million combined entity.
