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Eliem Therapeutics, a biotechnology company, completed the acquisition of Tenet Medicines, a development-stage private biotechnology company. Financial terms were not disclosed. “Today marks a transformative milestone for Eliem Therapeutics as we strive to become a leading immunology and inflammation company focused on developing novel treatments for a broad range of autoimmune diseases. With the concurrent close of our $120m private placement, we now have a robust balance sheet with approximately $220m in cash and cash equivalents and are poised to advance the development of TNT119, our lead anti-CD19 antibody, through multiple milestones and for several autoimmune diseases. We look forward to initiating Phase 2 clinical trials of TNT119 later this year," Andrew Levin, Eliem Executive Chairman. Tenet Medicines (led by Stephen Thomas and William Bonificio) was advised by Cooley LLP (led by Ryan Sansom). Eliem Therapeutics (led by William Bonificio) was advised by Leerink Partners, WilmerHale and ICR Westwicke (led by Christopher Brinzey). #MergersAcquisitionsDivestitures #Healthcare #Biotechnology

Eliem Therapeutics completed the acquisition of Tenet Medicines.

Eliem Therapeutics completed the acquisition of Tenet Medicines.

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