Concentra Biosciences, led by Kevin Tang and backed by Tang Capital, has continued its acquisition spree in the biotech sector with the purchase of Cargo Therapeutics, a cancer cell therapy company. This deal marks Concentra's fifth buyout this year and is potentially its fourth acquisition of a Bay Area biotech firm. The acquisition terms include a cash payment of $4.379 per share plus a contingent value right (CVR). The CVR entitles Cargo shareholders to 100% of net cash exceeding $217.5 million at closing and 80% of net proceeds from any asset sales within two years post-closing. Concentra has also acquired other biotechs such as IGM Biosciences, Elevation Oncology, Kronos Bio, and Allakos in its recent buying spree. This aggressive expansion reflects Concentra's strategy to consolidate multiple private biotechs, including those focused on cell therapy. Regulatory filings related to the acquisition have been submitted by Tang Capital Management LLC.