# Generation Bio Co. — merger/definitive [completed]
Source: SEC API (secapi.ai) · situation sit_3b84f1b792eee6dccd17 · retrieved 2026-08-11T15:53:22.324Z

## Overview
Generation Bio Co. is a Cambridge, Massachusetts-based biopharmaceutical company developing cell-targeted lipid nanoparticle (ctLNP) systems for delivering genetic medicine payloads, including small-interfering RNA (siRNA) to T cells, with existing collaborations including the Moderna Collaboration.

XOMA Royalty Corporation (via subsidiary XRA 7 Corp.) commenced a tender offer on January 9, 2026, to acquire all outstanding shares of Generation Bio Co. for $4.2913 per share in cash, plus one non-tradeable contingent value right (CVR) per share. The CVRs entitle holders to receive contingent cash payments over a 10-year period tied to: (i) any excess or shortfall of final net cash versus estimated closing net cash of $30.6 million; (ii) proceeds from settlement or termination of the Binney Lease (with a $2,051,444 security deposit); (iii) 70%-30% declining share of net proceeds from legacy asset monetization over five years; and (iv) 90%-50% declining share of proceeds under the existing Moderna Collaboration. The tender offer expires February 6, 2026 (20 business days after commencement), unless extended, with a maximum outside date of April 15, 2026. The merger is expected to close promptly after tender offer acceptance, with no stockholder vote required under Delaware Section 251(h).

## Terms
- Counterparty: XOMA Royalty Corporation · Consideration: mixed · Price/share: $4.2913

## Key dates
- Expiry 2026-02-06

## Timeline
- 2026-01-09 · SC 14D9 (0001104659-26-002517): SC 14D9 - Generation Bio Co. — *Generation Bio Co. is a Cambridge, Massachusetts-based biopharmaceutical company developing cell-targeted lipid nanoparticle (ctLNP) systems for delivering genetic medicine payloads, including small-interfering RNA (siRNA) to T cells, with existing collaborations including the Moderna Collaboration.* XOMA Royalty Corporation (via subsidiary XRA 7 Corp.) commenced a tender offer on January 9, 2026, to acquire all outstanding shares of Generation Bio Co. for $4.2913 per share in cash, plus one non-tradeable contingent value right (CVR) per share. The CVRs entitle holders to receive contingent cash payments over a 10-year period tied to: (i) any excess or shortfall of final net cash versus estimated closing net cash of $30.6 million; (ii) proceeds from settlement or termination of the Binney Lease (with a $2,051,444 security deposit); (iii) 70%-30% declining share of net proceeds from legacy asset monetization over five years; and (iv) 90%-50% declining share of proceeds under the existing Moderna Collaboration. The tender offer expires February 6, 2026 (20 business days after commencement), unless extended, with a maximum outside date of April 15, 2026. The merger is expected to close promptly after tender offer acceptance, with no stockholder vote required under Delaware Section 251(h).
  https://www.sec.gov/Archives/edgar/data/1733294/0001104659-26-002517.txt
- 2026-01-30 · SC 14D9/A (0001104659-26-008720): SC 14D9/A - Generation Bio Co. — *Generation Bio Co. is a biopharmaceutical company developing cell-targeted lipid nanoparticle (ctLNP) systems for selective delivery of genetic medicine payloads, including small-interfering RNA (siRNA), to multiple cell types; the company has a collaboration with Moderna and legacy assets available for monetization.* XOMA Royalty Corporation (via subsidiary XRA 7 Corp.) commenced a tender offer to acquire all outstanding shares of Generation Bio Co. for $4.2913 per share in cash, plus one non-tradeable contingent value right (CVR) per share representing the right to receive contingent milestone payments. The CVRs provide potential cash payments tied to: (i) excess or shortfall of final net cash versus estimated closing net cash; (ii) recovery proceeds from the Binney Lease settlement; (iii) declining percentages (90% in years 1-3, 80% in years 4-5, 70% in years 6-7, 50% in years 8-10) of net proceeds from the Moderna Collaboration over a 10-year period; and (iv) declining percentages (70% in years 1-2, 60% in years 3-4, 50% in years 5-6, 30% in years 7-10) of net proceeds from legacy assets transactions over a 10-year period. The tender offer commenced on January 9, 2026, and the transaction is structured as a two-step process under Delaware General Corporation Law Section 251(h), with the merger to follow promptly after the tender offer closes.
  https://www.sec.gov/Archives/edgar/data/1733294/0001104659-26-008720.txt
- 2026-02-09 · SC 14D9/A (0001104659-26-012119): SC 14D9/A SC 14D9/A
  https://www.sec.gov/Archives/edgar/data/1733294/000110465926012119/gbio-20260209xsc14d9a.htm
- 2026-02-09 · 8-K (0001104659-26-012121): 8-K 8-K
  https://www.sec.gov/Archives/edgar/data/1733294/000110465926012121/gbio-20260206x8k.htm

## Citations
- 0001104659-26-002517 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926002517
- 0001104659-26-008720 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926008720
- 0001104659-26-012119 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926012119
- 0001104659-26-012121 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926012121