LianBio’s Board of Directors Unanimously Determines not to Pursue Unsolicited Proposal from Concentra Biosciences
December 06 2023 - 4:05PM
LianBio (NASDAQ: LIAN), a biotechnology company dedicated to
bringing innovative medicines to patients in China and other major
Asian markets, today announced that its Board of Directors (the
“Board”) unanimously determined not to pursue the unsolicited
proposal from Concentra Biosciences, LLC 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 (the “Proposal”).
After careful review and consideration, the
Board unanimously concluded that the Proposal undervalues the
Company and is not in the best interests of LianBio or its
shareholders.
About LianBio
LianBio is a cross-border biotechnology company
on a mission to bring transformative medicines to historically
underserved patients in China and other Asian markets. Through
partnerships with highly innovative biopharmaceutical companies
around the world, LianBio is advancing a diversified portfolio of
clinically validated product candidates with the potential to drive
new standards of care across oncology, ophthalmology, and
inflammatory disease indications. LianBio is establishing an
international infrastructure to position the Company as a partner
of choice with a platform to provide access to China and other
Asian markets. For more information, please visit
www.lianbio.com.
For investor inquiries, please
contact:
Elizabeth Anderson, VP Communications
and Investor Relations
E:
elizabeth.anderson@lianbio.com
T: +1 646 655 8390
For media inquiries, please
contact:
Katherine Smith, Evoke
Canale
E:
katherine.smith@evokegroup.com
T: +1 619 849 5378
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