Sesen Bio push­es back af­ter in­vestor group at­tacks merg­er as ‘il­log­i­cal’

Sesen Bio is push­ing back against claims by a group of in­vestors who con­trol 8.4% of the com­pa­ny’s shares and who op­pose a planned re­verse merg­er.

Sesen Bio said in a state­ment Wednes­day morn­ing that it con­tin­ues to be­lieve a deal with CAR-M play­er Caris­ma Ther­a­peu­tics, an­nounced in Sep­tem­ber, is the “most val­ue max­i­miz­ing path.” Sesen added its board took four months to re­view all the biotech’s op­tions, in­clud­ing as­set sales, dis­solv­ing the com­pa­ny or a deal af­ter reach­ing out to more than 100 com­pa­nies.

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