LianBio (NASDAQ:LIAN) confirmed Friday night that it had obtained an unsolicited provide from Concentra Biosciences to accumulate 100% of the fairness within the firm for $4.30 in money plus a contingency proper worth for 80% of any web proceeds payable by license or disposition from LianBio’s applications.
The biotech firm mentioned that Concentra’s controlling shareholder, Tang Capital Companions, already holds an roughly 8.6% stake in LianBio. The provide was disclosed late Thursday in an SEC submitting, together with Tang’s stake.
LianBio added {that a} additional announcement can be made in “due course.”