Kezar Life Sciences

Aurinia has completed the acquisition of Kezar Life Sciences, acquiring approximately 80.2% of the outstanding common shares for $6.955 per share in cash plus a Contingent Value Right (CVR). Kezar became a wholly owned subsidiary, the board and management resigned, and the company applied for suspension of trading, delisting and deregistration with the SEC. Elements of the transaction include potential milestone payments for development programs, the transfer of the Sec61 program to Enodia, and a one‑time payment of about $2 million for early termination of a lease. » More on de.investing.com

Kezar Life Sciences has terminated the lease for its office space in South San Francisco effective April 1, 2026, and will pay about $2 million to the landlord. At the same time, the company agreed to separations with CEO Dr. Christopher J. Kirk, CFO Marc L. Belsky and COO Mark Schiller; severance payments correspond to change‑in‑control provisions and are contingent on release agreements. These measures are related to the planned acquisition by Aurinia Pharma U.S., which intends to offer $6.955 per share in cash to Kezar shareholders plus Contingent Value Rights; the offer has not yet been launched. Kezar is also selling its Sec61 research program to Enodia Therapeutics for an initial payment of $1 million plus up to $127 million in milestones. Jefferies continues to rate the stock as “Hold” with a $7.00 price target. » More on de.investing.com

Enodia has acquired the assets of Kezar’s Sec61 research program and will pay a $1 million upfront plus up to $127 million in development, approval, and commercialization milestones. Tiered royalties on net sales are also agreed. The acquisition gives Enodia access to Kezar’s preclinical data on small‑molecule Sec61 inhibitors and is intended to strengthen decision‑making for Enodia’s candidate programs. Kezar still maintains a strong cash position and will continue its clinical programs, including with zetomipzomib. » More on de.investing.com