After targeting struggling biotechs, Tang’s Concentra shifts gears with unsolicited bid for LianBio

Tang Cap­i­tal Man­age­ment has made its fifth un­so­licit­ed ac­qui­si­tion bid of the year, this time for US-Chi­nese com­pa­ny Lian­Bio. The choice of tar­get marks a no­table change in strat­e­gy for the Cal­i­for­nia in­vest­ment group, which had opt­ed to propo­si­tion strug­gling ear­ly-stage biotechs in 2023.

Lian­Bio is in a rel­a­tive­ly strong po­si­tion com­pared with Tang’s pre­vi­ous tar­gets, which in­clude Atea Phar­ma­ceu­ti­cals, Jounce Ther­a­peu­tics, Rain On­col­o­gy and The­seus Phar­ma­ceu­ti­cals. Lian­Bio has sev­er­al part­nered prod­ucts on the mar­ket and has ben­e­fit­ed from a re­cent spate of clin­i­cal suc­cess­es.

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