Concentra Biosciences Set to Acquire iTeos Therapeutics Soon

Author: Evelyn Baker Updated: 07-21-2025 07:49 AM

iTeos Therapeutics Announces Upcoming Acquisition by Concentra Biosciences

iTeos Therapeutics, Inc. (NASDAQ: ITOS) is embarking on a significant new chapter following the announcement that Concentra Biosciences, LLC has entered into a definitive merger agreement to acquire the company. The transaction, which is worth approximately $10.047 per share in cash, alongside a non-transferable contingent value right (CVR), marks a pivotal moment in iTeos's journey.

Offer Consideration and Strategic Review

The offer comprises the cash payment, as well as a right to receive excess cash holdings and a portion of proceeds from future dispositions of iTeos' product candidates. This has been deemed a beneficial move for all iTeos stockholders by the company’s board of directors, following a comprehensive strategic review with seasoned legal and financial advisors.

Details of the Acquisition Process

Concentra intends to launch the tender offer by a specified date, signaling the start of the acquisition process. The successful completion of the offer is contingent upon several critical factors—one being the tender of a sufficient number of shares representing a majority of the total outstanding shares as well as the availability of significant cash at closing.

Closing Conditions and Expectations

For the acquisition to proceed smoothly, certain customary closing conditions must be met. Once these requirements are satisfied, the acquisition is expected to finalize in the third quarter of 2025. iTeos will transition to being wholly owned by Concentra, streamlining the shareholder structure for future growth.

Importance of the Deal for Stockholders

The acquisition is touted as a strategic win for iTeos stockholders, ensuring they receive considerable value as the company integrates into Concentra's broader operational framework. iTeos' board strongly believes this merger will create a significant synergistic benefit, enhancing shareholder value.

Advisor Roles in the Transaction

In this pivotal transaction, TD Cowen is serving as the exclusive financial advisor to iTeos, while Ropes & Gray LLP is providing legal counsel to navigate the intricate details of the merger. Concentra is being represented by Gibson, Dunn & Crutcher LLP, highlighting the high level of expertise guiding the transaction.

About iTeos Therapeutics

iTeos Therapeutics is a cutting-edge biotech firm primarily focused on developing innovative cancer therapeutics. With headquarters in Watertown, MA, and operations extending to Belgium, the company has made substantial strides in drug development that aim to improve patient outcomes in oncology.

Frequently Asked Questions

What is the major highlight of the acquisition deal?

The acquisition deal involves Concentra Biosciences acquiring iTeos Therapeutics for $10.047 per share in cash, with additional contingent value rights attached.

When is the tender offer expected to start?

The tender offer from Concentra is set to commence by a noted date, which has not yet been fully detailed.

Who is advising iTeos Therapeutics during this process?

TD Cowen is acting as the exclusive financial advisor while Ropes & Gray LLP is providing legal guidance to iTeos during the merger.

What are the primary conditions for closing the acquisition?

The transaction requires certain customary conditions to be fulfilled, including a majority of shares tendered and sufficient cash availability at closing.

What is the expected timeline for the deal completion?

The acquisition is anticipated to close in the third quarter of 2025, pending the satisfaction of all necessary conditions.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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