LianBio confirms receipt of unsolicited proposal from Concentra Biosciences

The Board of Directors of LianBio confirmed that Concentra Biosciences, of which Tang Capital Partners, LP is the controlling shareholder, has made an unsolicited and non-binding proposal to acquire 100% of the equity of LianBio. According to the Schedule 13D filed on November 30, 2023 with the U.S. SEC disclosing the Proposal, Tang Capital is currently approximately an 8.6% shareholder of LianBio. The Proposal consists of $4.30 in cash per share 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. The Proposal is subject to limited confirmatory due diligence and is based on the availability of at least $515M of cash and cash equivalents at closing, net of any residual liabilities and closing costs. The Board is committed to acting in the best interests of all shareholders, consistent with its fiduciary duties. A further announcement will be made in due course.