Elevation Oncology today announced that it has entered into a definitive merger agreement with Concentra Biosciences, LLC, whereby Concentra will acquire Elevation Oncology for $0.36 in cash per share of Elevation Oncology common stock, plus one non-tradeable contingent value right, which represents the right to receive: (i) 100% of the closing net cash in excess of $26.4 million; and (ii) 80% of any net proceeds received within five years following closing from any disposition of EO-1022 that occurs within one year following closing, each pursuant to the contingent value rights agreement.