Concentra Biosciences, a serial acquirer of struggling biotech firms, has finalized the acquisition of Cargo Therapeutics amid the latter's financial distress and clinical setbacks. The deal includes cash payment and contingent value rights, securing Concentra’s fifth biotech purchase in 2025 after acquiring companies like IGM Biosciences and Elevation Oncology. Cargo’s pipeline troubles, including discontinued lead therapies and workforce reductions, contributed to board consensus for the sale. Concentra’s acquisition strategy targets companies facing operational challenges to expand its portfolio rapidly.