Cyclerion Therapeutics to Merge With Korsana Biosciences in All-Stock Deal

Sesen Bio and Carisma Therapeutics Announce Definitive Merger Agreement

September 21, 2022

Biotechnology

Sesen Bio, Inc. and Carisma Therapeutics Inc. have entered into a definitive merger agreement in an all-stock transaction to combine their businesses and create a well-funded, clinical-stage biotechnology company focused on engineered macrophage cell therapies for cancer and other serious disorders. The combined company is expected to trade on Nasdaq as Carisma Therapeutics Inc. under the ticker “CARM” and have approximately $180 million in cash at close, including $30 million from a concurrent financing by Carisma.

Kintara Therapeutics Proposed Merger with TuHURA Biosciences

October 14, 2024

Healthcare Services

Kintara Therapeutics entered into a definitive merger agreement with TuHURA Biosciences, under which Kayak Mergeco will merge with and into TuHURA, with TuHURA surviving and becoming Kintara’s direct, wholly-owned subsidiary. The transaction is expected to close October 18, 2024, subject to regulatory approval and remaining closing conditions. Kintara will issue contingent value rights (CVRs) to its stockholders prior to closing tied to milestone achievement.

Rallybio Corporation Acquires Candid Therapeutics

March 5, 2026

Biotechnology

Rallybio Corporation entered into a definitive agreement to acquire clinical-stage biotechnology company Candid Therapeutics in a merger transaction. The combined company will operate as Candid Therapeutics, Inc. and is expected to trade on Nasdaq under the ticker symbol CDRX, with the deal targeted to close in mid-2026 subject to customary conditions and approvals. Concurrently, Candid arranged an oversubscribed private financing of more than $505 million from a syndicate of healthcare institutional investors and mutual funds, expected to fund operations through 2030.

SAB Biotherapeutics to Go Public via Merger with Big Cypress Acquisition Corp.

October 20, 2021

Biotechnology

SAB Biotherapeutics entered into a definitive business combination/merger agreement with Big Cypress Acquisition Corp. (a SPAC), with the combined company to operate as SAB Biotherapeutics and be listed on Nasdaq. Big Cypress stockholders approved the deal, and the transaction was expected to close on or about October 22, 2021, subject to customary conditions.

Esperion Therapeutics to Acquire Corstasis Therapeutics

March 5, 2026

Biotechnology

Esperion Therapeutics announced it has entered into a definitive agreement to acquire Corstasis Therapeutics for an upfront cash payment of $75 million, with potential milestone payments of up to $180 million. The deal is expected to add Enbumyst (bumetanide nasal spray) to Esperion’s cardiovascular portfolio, leveraging its commercial infrastructure to expand its cardiovascular franchise.

Aurinia Pharmaceuticals to Acquire Kezar Life Sciences for $6.955 Per Share

March 31, 2026

Pharmaceuticals

Aurinia Pharmaceuticals entered into a definitive merger agreement to acquire Kezar Life Sciences for $6.955 per share in cash, plus a contingent value right tied to future milestones and financial outcomes. The transaction is expected to close in the second quarter of 2026, following a tender offer by April 13, 2026.