M&A · Healthcare · Pharmaceutical Preparations
Kuva Labs Inc. to acquire Lisata Therapeutics, Inc.
Announced Jan 21, 2026 · Terminated Jul 24, 2026
Deal value$35MEV $16M
Premium85.0%To unaffected price
EV / Adj. EBITDA—15.2x EV / Revenue
ConsiderationAll cash$4.00 per share
Transaction
- Acquirer
- Kuva Labs Inc.
- Target
- Lisata Therapeutics, Inc. (LSTA)
- Buyer type
- Strategic
- Offer price per share
- $4.00
- Enterprise value
- $16M
- Status
- Terminated Jul 24, 2026
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- H.C. Wainwright
Sector context · Healthcare
- Comparable deals
- 98 in the prior 24 months
- Premium
- 85.0% vs. 56.0% sector median
- EV / Adj. EBITDA
- Sector median 14.5x
- Break fee
- Sector median 3.4%
Timeline
- AnnouncedJan 21, 2026
- Tender offerJun 10, 2026
- TerminatedJul 24, 2026