Concentra Biosciences (Tang Capital) to Acquire Theseus Pharmaceuticals

Concentra Biosciences, a vehicle controlled by Tang Capital Partners, has entered into a definitive merger agreement to acquire clinical-stage biotech Theseus Pharmaceuticals for $3.90–$4.05 per share in cash plus a contingent value right tied to future program licensing/disposition proceeds. The transaction will be effected by a tender offer and is expected to close in February 2024, subject to customary conditions and the availability of required cash at closing.