ARTICLE | Deals
Concentra deals piling up as struggling biotechs look for options
Since April, at least six biotechs have chosen a buyout by the Tang Capital-backed entity, typically resulting in a shutdown
July 23, 2025 12:18 AM UTC
Concentra, the Tang Capital-backed entity that acquires and shuts down struggling biotechs, made at least its sixth deal this year by agreeing to buy Iteos for $10.047 per share.
The agreement comes about two months after Iteos Therapeutics Inc. (NASDAQ:ITOS) said it would wind down operations, following a strategic review of its options. In mid-May, the biotech’s TIGIT inhibitor belrestotug had missed the primary endpoint in a Phase II study to treat lung cancer...