Pharma BD Deal Intelligence

Concentra Biosciences, LLC / IGM Biosciences Inc.

2025 · Take-Private · Complete

IGM Biosciences entered a definitive merger agreement on July 1, 2025 to be acquired by Concentra Biosciences for $1.247 per share in cash plus one non-tradeable contingent value right per share. The CVR entitles holders to 100% of IGM's closing net cash above $82.0 million and 80% of net proceeds from any disposition of certain product candidates and IP within one year of closing. Tender offer expected to commence by July 16, 2025; closing anticipated August 2025. Aggregate value not disclosed.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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