iTeos Therapeutics to be Acquired by Concentra Biosciences for $10.047 per Share in Cash Plus Contingent Value Rights.

iTeos Therapeutics has agreed to be acquired by Concentra Biosciences for $10.047 per share, plus a contingent value right. Concentra will commence a tender offer by August 1, 2025. The deal is subject to certain conditions, including the receipt of regulatory approvals. The acquisition is expected to be completed by the end of 2025.

iTeos Therapeutics, Inc., a biopharmaceutical company based in Watertown, Massachusetts, has agreed to be acquired by Concentra Biosciences, LLC, a Delaware limited liability company, for a price of $10.047 per share, plus a contingent value right. The acquisition, which is subject to regulatory approvals, is expected to be completed by the end of 2025.

The merger agreement, signed on July 18, 2025, provides for the acquisition of all outstanding shares of iTeos Therapeutics' common stock by Concentra through a tender offer. The tender offer is expected to commence on August 1, 2025, and will close no later than ten business days after the date of the merger agreement. The acquisition is subject to various conditions, including the receipt of regulatory approvals and the accuracy of representations and warranties made by iTeos Therapeutics in the merger agreement [1].

Upon the completion of the tender offer, Concentra will merge with and into iTeos Therapeutics, with iTeos Therapeutics surviving as a wholly owned subsidiary of Concentra. The merger is expected to be consummated as soon as practicable following the time of purchase by Concentra of shares of common stock validly tendered and not withdrawn in the offer. The merger agreement contains representations and warranties from both iTeos Therapeutics and Concentra, which are customary for such transactions [1].

The acquisition is expected to be completed by the end of 2025, subject to the satisfaction of the conditions precedent to the closing of the merger. The merger agreement also provides for the vesting and cancellation of certain equity awards held by iTeos Therapeutics' employees and service providers, depending on the terms of their individual agreements and the vesting schedule of such awards [1].

References:

[1] United States Securities and Exchange Commission. (2025, July 18). Form CURRENT REPORT. Retrieved from https://www.sec.gov/Archives/edgar/data/1808865/000095017025097079/itos-20250718.htm