India, Feb. 21 -- Clinical biopharma company ACELYRIN, Inc. (SLRN) on late Thursday confirmed that it has received an unsolicited indication of interest from Concentra Biosciences, LLC, of which Tang Capital Partners, LP is the controlling shareholder.
ACELYRIN shares were up around 11 percent on Thursday's after-hours trading.
As per the offer, Concentra Biosciences will acquire all the outstanding ACELYRIN shares for $3.00 per share in cash, in addition to a contingent value right. This contingent value right allows for the receipt of 80 percent of the net proceeds from any out-license or disposition of ACELYRIN's development programs or intellectual property.
Earlier, on February 6, ACELYRIN had revealed an agreement to merge with Alu...