Concentra could have been forgiven for thinking their next acquisition weeks after Jounce would be another slam dunk. But Atea isn't playing ball.
Atea Pharmaceuticals, which went public in fall 2020 with the hopes of treating Covid-19 and other infectious diseases but has since struggled, said it has received an unsolicited proposal from Tang Capital’s Concentra Biosciences, a newly formed company that is in the process of also acquiring Jounce Therapeutics.
Weeks after closing a deal to buy Jounce Therapeutics, Concentra Biosciences is rebounding to pick up another struggling biotech, this time COVID-19-focused Atea Pharmaceuticals.
CAMBRIDGE, Mass., May 03, 2023 (GLOBE NEWSWIRE) -- Jounce Therapeutics, Inc. (NASDAQ: JNCE) (“Jounce” or the “Company”), a clinical-stage company focused on the discovery and development of novel...
Termination of Proposed Business Combination of Jounce Therapeutics, Inc. and Redx Pharma plc
(Reuters) - Jounce Therapeutics Inc on Monday agreed to be acquired by privately held Concentra Biosciences for $96.46 million, while spurning a merger deal with British biotech firm Redx Pharma.
Jounce Therapeutics Enters Into Agreement to Be Acquired by Concentra Biosciences for $1.85 in Cash per Share Plus Contingent Value Rights
Jounce Therapeutics Announces Results from Pre-Planned Data Review of INNATE Phase 2 Trial of JTX-8064 and Pimivalimab Demonstrating Deep and Durable Responses in Platinum Resistant Ovarian Cancer
Just last month, Jounce Therapeutics jumped at the chance for a reverse merger into Redx Pharma after conceding its cancer meds were unlikely to advance any further into clinic. Now, the surprise arrival of another offer leaves Jounce in the unexpected position of fighting off prospective suitors.
Jounce Therapeutics Confirms Receipt of Unsolicited Proposal from Concentra Biosciences