Kuva Labs to Acquire Lisata Therapeutics in a $21.38 Million Deal

Lisata Therapeutics, Inc. (LSTA) entered a merger agreement on March 6, 2026, to be acquired by Kuva Labs Inc. in a deal valued at $21.38 million.

Deal Structure:

Kuva will commence a tender offer to acquire all the issued and outstanding shares of common stock of Lisata for $5 per share in cash plus one contingent value right (CVR) per share. The cash consideration represents a 19.62% premium from the stock’s last close.

The CVR entitles the holders of record to receive an additional cash payment of $1 per share if a New Drug Application or similar registration is filed or formally accepted for review by the FDA or any governmental authority in any jurisdiction with respect to any pharmaceutical product that contains or incorporates the product candidate referred to as certepetide for any indication or patient population before the seventh anniversary of the closing date.

Company Profile:

Lisata is a clinical-stage biopharmaceutical company developing therapies for advanced solid tumors and other diseases, including its cyclic peptide candidate certepetide, designed to improve drug delivery into tumors using its CendR platform. The company is based in Basking Ridge, New Jersey, and was previously known as Caladrius Biosciences and NeoStem.

Kuva Labs is a preclinical bioscience company developing NanoMark, an MRI-based imaging platform designed to enable selective visualization of solid tumors with high contrast and spatial resolution without using ionizing radiation. The company was founded in 2019 and focuses on improving tumor detection and diagnostic imaging.

Deal Details and Timeline:

In January, Lisata had entered a binding term sheet to be acquired by Kuva Labs. The stock was trading at $2.16 when Kuva had offered $4 per share in cash plus two CVRs of $1 per share each.

The deal is expected to close in the second quarter of 2026.

H.C. Wainwright & Co. served as the financial advisor, while Mintz, Levin, Cohn, Ferris, Glovsky & Popeo provided legal counsel to Lisata. Goodwin Procter served as Kuva Labs’ legal counsel.

Deal Metrics:

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

Deal Metrics for the acquisition of Lisata Therapeutics, Inc. (LSTA) by Kuva Labs Inc.

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 much more.

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Editor’s Note: Baranjot Kaur contributed to this article