Concentra Biosciences Acquires CARGO Therapeutics for $170.70 Million

Concentra Biosciences, LLC entered a merger agreement on July 8, 2025, to acquire CARGO Therapeutics, Inc. (CRGX) for $170.70 million.

Details of the Agreement:

Under the terms of the agreement, Concentra will acquire CARGO for $4.379 in cash per share of CARGO common stock, plus one non-transferable contingent value right (CVR), which represents the right to receive:

1. 100% of the closing net cash of CARGO over $217.5 million; and
2. 80% of any net proceeds received within two years following closing from any disposition of certain of CARGO’s product candidates that occurs within two years following closing.

The cash consideration of $4.379 per share represents a discount of 0.25% from the stock’s last close.

Company Profile:

CARGO Therapeutics is a biotechnology company developing advanced CAR T-cell therapies to treat cancer, focusing on blood cancers by targeting specific proteins found on cancer cells.

Deal Details and Timeline:

Concentra will commence a tender offer by July 21, 2025, to acquire all outstanding shares of CARGO common stock.

The merger is expected to close in August 2025.

CARGO Therapeutics was advised by TD Cowen on financial matters and by Latham & Watkins on legal issues. Concentra Biosciences received legal counsel from Gibson, Dunn & Crutcher.

Deal Metrics:

For an in-depth perspective on this M&A transaction, please visit:

Deal Metrics for the acquisition of CARGO Therapeutics, Inc. (CRGX) by Concentra Biosciences, LLC

The Deal Metrics page for each merger or acquisition includes:

• The spread history chart from the announcement to the completion or failure of the merger.
• Progressive events, including the expiration of the HSR period, regulatory approvals, shareholder votes, etc.
• News and SEC filings related to the merger.
• A chronological timeline of deal updates.
• And much more.

Disclaimer: This article is intended for informational purposes only. We recommend independent verification of the data provided before making any investment decisions. We do not guarantee the accuracy or completeness of the information provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article