Concentra Biosciences, LLC submit non-binding proposal to acquire LianBio (NasdaqGM:LIAN) from Tang Capital Partners, LP, managed by Tang Capital Management, LLC and others on November 30, 2023. Concentra Biosciences will acquire LianBio for $4.30 per share in cash, plus a contingent value right (?CVR?) representing the right to receive 80% of the net proceeds payable from any license or disposition of LianBio?s programs (the ?CVR Products?). The proposal is subject to limited confirmatory due diligence and is based on the availability of at least $515 million of cash and cash equivalents at closing, net of any residual liabilities and closing costs. Concentra expect to complete due diligence and negotiate a definitive merger agreement by December 22, 2023 and would be able to close acquisition through a cash tender by February 22, 2024.

Concentra Biosciences, LLC cancelled the acquisition of LianBio (NasdaqGM:LIAN) from Tang Capital Partners, LP, managed by Tang Capital Management, LLC and others on December 6, 2023. After careful review and consideration, the LianBio Board unanimously concluded that the Proposal undervalues the Company and is not in the best interests of LianBio or its shareholders.