Biotechnology company Rain Oncology disclosed Monday that it has received a buyout offer from Concentra Biosciences, via Concentra’s owner Tang Capital.
Concentra’s bid, filed Friday, proposes to acquire all outstanding shares from Rain for $1.25 per share, plus a type of security known as a contingent value right that promises Rain shareholders 80% of the proceeds from any license or sale of the company’s programs.
Rain said its board of directors will review the proposal.
