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.
Key Takeaways
- Acelyrin and Alumis plan to continue their proposed all-stock merger, which they said is expected to close in Q2.
- Acelyrin decided to decline a buyout offer from Tang Capital-backed Concentra after determining that it would not offer superior value to the planned merger
After the two California biotechs revealed their
Read the full article – start your free trial today!
Join thousands of industry professionals who rely on Scrip for daily insights
- Start your 7-day free trial
- Explore trusted news, analysis, and insights
- Access comprehensive global coverage
- Enjoy instant access – no credit card required
Already a subscriber?
