Concentra Biosciences Acquires Elevation Oncology for $21.32 Million

Concentra Biosciences, LLC entered a merger agreement on June 9, 2025, to acquire Elevation Oncology, Inc. (ELEV) in a deal valued at $21.32 million.

Deal Details:

Under the terms of the agreement, Concentra will acquire Elevation Oncology for $0.36 in cash per share of Elevation Oncology common stock, plus one non-tradeable contingent value right (CVR), which gives the holder the right to:

1. receive their share of any post-closing net cash above $26.4 million, and
2. receive 80% of any net proceeds paid to the buyer from the sale or license of the EO-1022 drug, as long as the sale or license agreement is signed within 1 year after closing and the related payments are received within 5 years.

The cash consideration of $0.36 per share represents a 12.50% premium from the stock’s last close.

Company Profile:

Elevation Oncology is a clinical-stage biopharmaceutical company developing targeted cancer therapies for genomically defined patient populations, with a lead program focused on treating advanced solid tumors.

Deal Details and Timeline:

Concentra will commence a tender offer by June 23, 2025, to acquire all outstanding shares of Elevation.

The deal is expected to close in July 2025.

Elevation Oncology was advised by Fenwick & West, while Concentra Biosciences received legal counsel from Gibson, Dunn & Crutcher.

Deal Metrics:

For more information regarding this M&A transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Elevation Oncology, Inc. (ELEV) by Concentra Biosciences, LLC

The Deal Metrics page for each merger or acquisition includes:

– A spread history chart of the merger from announcement through eventual completion or failure.
– Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates.
– And a whole lot more.

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Editor’s Note: Baranjot Kaur contributed to this article