BRIEF—LianBio rejects Concentra takeover offer

Sino-American biotech LianBio says that its board of directors unanimously determined not to pursue the unsolicited proposal from Concentra Biosciences to acquire 100% of the equity of LianBio for $4.30 per share in cash, plus a contingent value right representing the right to receive 80% of the net proceeds payable from any license or disposition of LianBio’s programs.

After careful review and consideration, the Bboard unanimously concluded that the Proposal undervalues the Company and is not in the best interests of LianBio or its shareholders.

This marks the third unsuccessful attempt this year by Concentra, of which Tang Capital Partners the controlling shareholder, to acquire companies.