Theseus Pharmaceuticals is acquired by Concentra Biosciences.
Theseus Pharmaceuticals has agreed to be acquired by Concentra Biosciences for $3.90 to $4.05 a share in cash. The acquisition price includes a base price of $3.90 a share and an additional 15 cents per share at closing, plus a non-tradeable contingent value right.
The company has 44.2 million shares outstanding, putting the deal value at $179.1 million at $4.05 a share. The deal's contingent value right represents the right to receive 80% of net proceeds from any license or disposition of Theseus' programs effected within 180 days of closing of the merger and half of the potential aggregate value of certain potential cost savings realized within 180 days of the close of the merger.
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