On May 2, Concentra Biosciences reported that it acquired Kronos Bio, Inc. for $34.7 million. As of April 30, 2025, there were 60,969,214 Kronos common stock shares. At a price of $0.57 per share, the total purchase price is nearly $34.8 million.
Kronos Bio is a biopharmaceutical company focused on the discovery and development of small molecule therapeutics to address deregulated transcription, a hallmark of cancer and autoimmune diseases. Kronos Bio has a research facility in East Cambridge, Massachusetts.
Concentra Biosciences is owned by Tang Capital Partners, a life sciences-focused investment company. The company was founded in 1979.
Concentra will acquire Kronos’ common stock for 35% below the biotech’s closing price of $0.89. The deal further includes a contingent value right, allowing Kronos investors to receive additional proceeds based on a range of possible outcomes for the company’s assets. Goodwin Procter LLP is acting as legal counsel to Kronos Bio and Leerink Partners is acting as sole financial advisor to Kronos Bio. Gibson, Dunn & Crutcher LLP is acting as legal counsel to Concentra.
According to data captured in the LevinPro HC database, this transaction represents the 46th Biotechnology transaction of 2025. There were 135 Biotechnology transactions announced in 2024, and 160 announced in 2023.
