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ACELYRIN Confirms Receipt of Unsolicited Indication of Interest from Concentra Biosciences
LOS ANGELES, Feb. 20, 2025 (GLOBE NEWSWIRE) -- ACELYRIN, INC. (Nasdaq: SLRN), a late-stage clinical biopharma company focused on accelerating the development
About this update from Alumis Inc.
[{"type":"text","content":"LOS ANGELES, Feb. 20, 2025 (GLOBE NEWSWIRE) -- ACELYRIN, INC. (Nasdaq: SLRN), a late-stage clinical biopharma company focused on accelerating the development and delivery of transformative medicines in immunology, today confirmed receipt of an unsolicited indication of interest from Concentra Biosciences, LLC, of which Tang Capital Partners, LP is the controlling shareholder, to acquire all of the outstanding shares of ACELYRIN for $3.00 per share in cash, plus a contingent value right that represents the right to receive 80% of the net proceeds from any out-license or disposition of ACELYRIN’s development programs or intellectual property. On February 6, 2025, ACELYRIN announced an agreement to merge with Alumis Inc. (Nasdaq: ALMS) in an all-stock transaction. The transaction is expected to close in the second quarter of 2025, subject to approval by the stockholders of both companies and satisfaction of other customary closing conditions. The ACELYRIN Board of Directors is committed to acting in the best interests of all stockholders, consistent with its fiduciary duties, and to its obligations under the merger agreement with Alumis. A further announcement will be made in due course. ACELYRIN stockholders do not need to take any action at this time. Guggenheim Securities, LLC is serving as financial advisor to ACELYRIN and Fenwick & West LLP and Paul Hastings LLP are serving as its legal counsel. About ACELYRINACELYRIN, INC. (Nasdaq: SLRN) is focused on providing patients life-changing new treatment options by identifying, acquiring, and accelerating the development and commercialization of transformative medicines. ACELYRIN’s lead program, lonigutamab, is a subcutaneously delivered monoclonal antibody targeting IGF-1R being investigated for the treatment of thyroid eye disease. Forward-Looking Statements This communication contains forward-looking statements within the meaning of federal securities laws, including the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon current plans, estimates and expectations of management of ACELYRIN, Inc. (“ACELYRIN”) in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such state...