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iTeos Therapeutics Enters into Agreement to Be Acquired by Concentra Biosciences

iTeos Therapeutics, Inc. announced that it has entered into a definitive merger agreement whereby Concentra Biosciences will acquire iTeos for $10.047 in cash per share of iTeos common stock par value $0.001 per share, plus one non-transferable contingent value right, which represents the right to receive: (i) 100% of the closing net cash of iTeos in excess of $475 million; and (ii) 80% of any net proceeds received from any disposition of certain of iTeos’ product candidates that occurs within six months following the closing.

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