NGM Biopharma confirms The Column Group interested in acquiring company

In a regulatory filing from January 2, NGM Biopharmaceuticals confirmed that it received a non-binding expression of interest dated December 28, 2023 from The Column Group and certain affiliated investment funds and persons, outlining TCG’s intent to explore and evaluate a potential acquisition of all of the outstanding shares of common stock of the company not already owned by TCG in a going-private transaction. TCG currently beneficially owns approximately 26.7% of the outstanding shares of NGM Bio’s common stock. In response to the EOI, the company’s board formed a special committee consisting of disinterested and independent directors to consider the EOI and any other strategic alternatives that may be available to the company, including remaining a standalone publicly-traded company. The special committee has retained Hogan Lovells US as its independent legal advisor, and intends to retain an independent financial advisor, to assist it in considering the EOI. The special committee intends to carefully consider the EOI with the assistance of its independent financial and legal advisors. There can be no assurance that any definitive agreement will be executed, or that the proposed transaction with TCG or any other transaction will be approved or consummated. NGM Bio and the special committee do not intend to comment on or disclose further developments regarding the special committee’s consideration of the EOI unless and until it deems further disclosure is appropriate or required. NGM Bio’s stockholders are advised to take no action at this time.