Concentra to Acquire Elevation in Bid to Eliminate Another Biotech ‘Zombie’

Concentra to acquire Elevation in bid to eliminate another biotech ‘zombie’

The offer is the latest in a series of deals by Concentra, an entity controlled by Tang Capital Partners, to buy struggling biotechs and shut them down.

Concentra Biosciences to Acquire Elevation Oncology in Strategic Biotech Merger - Channelchek

Key Points: – Concentra Biosciences is acquiring Elevation Oncology for $0.36 per share in cash plus a CVR tied to future financial milestones.– Elevation’s board supports the deal; insiders holding 5.1% have committed to tender their shares.– Shareholders could earn additional payouts based on net cash reserves and proceeds from potential asset sales. In a strategic move within the biotech sector, Concentra Biosciences has announced plans to ac…

Elevation Oncology Enters into Agreement to Be Acquired by Concentra Biosciences for $0.36 in Cash per Share Plus a Contingent Value Right - Elevation Oncology

Open the article to view the coverage from Elevation Oncology