Billionaire Investor Antonio Gracias Plots $100M Lykos Takeover with Doblin’s Backing
This latest twist in the Lykos Therapeutics saga threatens a major overhaul of the company’s strategy and direction, with Musk ally and billionaire investor Antonio Gracias appearing to want to take the company back toward its nonprofit drug development roots and a more Doblinite philosophy.
But whether the board will come to accept Gracias’ proposal, and just how closely it will align with Doblin’s ethos, is yet to be seen. (One of Gracias’ associates and serial investees, Jeff Aronin, has been mired in a price-gouging controversy and compared to Martin Shkreli. His company, Paragon Biosciences, could play a role in the future of Lykos if the deal goes through, though this is unclear.)
A major question surrounding the likelihood of the deal being accepted is whether it offers present investors an acceptable exit opportunity.
We will be following this story closely over the coming weeks. Read my latest via the link in the comments.
