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LianBio Receives $465 Million Cash Buyout Plus Contingent Rights Offer From Tang Capital

publication date: Dec 1, 2023

LianBio, a Princeton-Shanghai in-licensing company, received a $465 million buyout offer from Tang Capital Management of San Diego. In addition, Tang also offered shareholders a contingent value right (CVR) for 80% of net proceeds from any license or divestment of a LianBio holding. The offer is Tang’s fifth takeover target this year. The previous four companies have been biopharmas that are close to going out of business, while LianBio is in better shape. Recently, LianBio signed a deal worth $350 million upfront for China rights for mavacamten, a cardiomyopathy drug, to BMS, which already owned rest-of-the-world rights. More details...

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