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LianBio (NASDAQ:LIAN), a biotechnology company dedicated to bringing innovative medicines to patients in China and other major Asian markets, today announced that its Board of Directors (the "Board") unanimously determined not to pursue the unsolicited proposal from Concentra Biosciences, LLC to acquire 100% of the equity of LianBio for $4.30 per share in cash, plus a contingent value right representing the right to receive 80% of the net proceeds payable from any license or disposition of LianBio's programs (the "Proposal").
After careful review and consideration, the Board unanimously concluded that the Proposal undervalues the Company and is not in the best interests of LianBio or its shareholders.
Posted In: LIAN
