Pharma BD Deal Intelligence

Concentra Biosciences, LLC / Kronos Bio, Inc.

2025 · Take-Private · Pending

Concentra Biosciences, LLC agreed to acquire Kronos Bio, Inc. via a cash tender offer for all outstanding shares at $0.57 per share plus one non-transferable contingent value right, followed by a merger under Section 251(h) of the DGCL. The Merger Agreement was entered into May 1, 2025. Kronos' board determined the transaction fair and recommended stockholders tender. Aggregate transaction value was not disclosed in the 8-K; only per-share consideration is sourced here. Concentra (a Tang Capital-affiliated vehicle) pursues cash-rich, strategically winding-down biotechs.

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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