The proposed all-stock merger of troubled Acelyrin with Alumis, first announced on 6 February, will go forward, Acelyrin said 4 March, stating it will decline an unsolicited acquisition offer from Tang Capital-backed Concentra Biosciences that it received on 20 February. The Concentra bid would not result in a superior offer compared to the Alumis combination, Acelyrin said, adding that it expects the merger to close in Q2.
Acelyrin To Proceed With Alumis Merger, Spurn Concentra Bid
The proposed merger could consolidate a pipeline of immunology drug candidates at Alumis and was determined to offer better value than an unsolicited bid from Concentra.
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