Business
ACELYRIN Determines Unsolicited Indication of Interest From Concentra Biosciences Not Reasonably Expected to Result in a Superior Proposal to Planned Alumis Merger
All-Stock Transaction with Alumis Maximizes Long-Term Value for ACELYRIN Stockholders LOS ANGELES, March 04, 2025 (GLOBE NEWSWIRE) -- ACELYRIN, INC. (Nasdaq:
About this update from Alumis Inc.
[{"type":"text","content":"All-Stock Transaction with Alumis Maximizes Long-Term Value for ACELYRIN Stockholders LOS ANGELES, March 04, 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 announced that, after due consideration in consultation with its independent financial and legal advisors, its Board of Directors determined that the unsolicited indication of interest from Concentra Biosciences, LLC, of which Tang Capital Partners, LP is the controlling shareholder, is not reasonably expected to result in a superior proposal to the planned merger with Alumis Inc. (Nasdaq: ALMS). The ACELYRIN Board of Directors is confident that the all-stock transaction with Alumis maximizes long-term value for ACELYRIN stockholders and continues to recommend that stockholders support the planned merger. 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. 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 ACELYRIN ACELYRIN, 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 statements. The inclusion of forward-looking statements should not be regarded as a representation that su...