Concentra Biosciences, LLC submitted a non- binding proposal to acquire Kezar Life Sciences,

Concentra Biosciences will acquire 100% of the equity of Kezar Life Sciences, Inc. for $1.10 per share in cash, plus a contingent value right (CVR) that represents the right to receive 80% of the net proceeds from any out-license or disposition of Kezar's development programs or intellectual property. Concentra has funds immediately available to execute this transaction. The proposal is subject to limited confirmatory due diligence. The transaction could close the acquisition within 50 days of execution of a definitive merger agreement.