Acelyrin rebuffs Concentra bid, believing Alumis option better

The board of directors at immunology-focused biopharma Acelyrin (Nasdaq: SLRN) has found that an unsolicited takeover bid from Concentra Biosciences is an inferior proposal to the planned merger with Alumis (Nasdaq: ALMS). 

It was announced in early February that Acelyrin and Alumis were planning to merge in an all-stock deal, creating a late-stage biopharma focused on immune-mediated diseases, with the combined company to operate under the Alumis name and be led by Alumis’ current executive team, with key Acelyrin personnel joining to oversee its lead program, lonigutamab.

The news came less than two months after Acelyrin announced it was exploring merger and acquisition opportunities, following the failure of its lead candidate, izokibep, in a uveitis trial.