Alumis to Acquire Acelyrin in an All-Stock Deal

Alumis Inc. (ALMS) entered a merger agreement on February 6, 2025, to acquire Acelyrin, Inc. (SLRN) in an all-stock deal.

Deal Structure:

Under the agreement, Acelyrin stockholders will receive 0.4274 shares of Alumis common stock for each share of Acelyrin common stock owned. The deal is valued at $2.82 per share, representing a 48.42% premium from the stock’s last close.

Company Profile:

Acelyrin is a biopharma company developing innovative medicines, currently in clinical and preclinical stages, to treat conditions like skin diseases, arthritis, thyroid eye disease, and chronic hives.

Alumis is a clinical-stage biopharma company developing precision therapies for autoimmune and immune-mediated diseases, including ESK-001 for psoriasis and lupus, and A-005 for neuroinflammatory and neurodegenerative conditions.

Deal Details and Timeline:

As of December 31, 2024, Alumis had about $289 million, and ACELYRIN had about $448 million in cash, investments, and similar assets. Together, they have a combined total of about $737 million.

After the deal is completed, expected in the second quarter of 2025, Alumis stockholders will own about 55% of the combined company, while Acelyrin stockholders will hold about 45%.

The combined company’s Board will expand to nine members, including two additional directors from Acelyrin’s Board. It will operate under the Alumis name, with its corporate headquarters staying in South San Francisco.

Acelyrin is receiving financial advice from Guggenheim Securities and legal counsel from Fenwick & West. Alumis has engaged Morgan Stanley for financial guidance and Cooley for legal advice.

Deal Metrics:

For a comprehensive examination of this M&A transaction, please refer to the Deal Metrics page:

Deal Metrics for the acquisition of Acelyrin, Inc. (SLRN) by Alumis Inc. (ALMS)

The Deal Metrics page for each merger includes:

• A comprehensive spread history chart, detailing the merger from its announcement to completion or failure.
• A timeline of events as the merger progresses, including the expiration of the HSR period, regulatory approvals, shareholder votes, and more.
• Updates, news, and SEC filings related to the deal.
• A history of deal updates.
• And much more.

Disclaimer: The content provided in this article is intended for informational purposes only. It is advised to conduct your own research and due diligence before buying or selling any securities mentioned in this article. The accuracy or completeness of the information provided herein is not guaranteed.

Editor’s Note: Baranjot Kaur contributed to this article