Eliem Therapeutics completes acquisition of Tenet Medicines to advance TNT119 for autoimmune diseases
Acquiring Company
Climb Bio, Inc.
Acquired Company
Tenet Medicines
Wellesley HillsScotch PlainsBiotechnologyHealthcareHealth CareresearchHealth CareDescription
Eliem Therapeutics, Inc. (Nasdaq: ELYM) announces the closing of its acquisition with Tenet Medicines, further strengthening its position as a leading immunology and inflammation company. With the acquisition and concurrent $120 million private placement, Eliem has a robust balance sheet with approximately $220 million in cash and cash equivalents, enabling the advancement of TNT119, its lead anti-CD19 antibody, through multiple milestones for several autoimmune diseases, including systemic lupus erythematosus, immune thrombocytopenia and membranous nephropathy.
Quick answer
Climb Bio, Inc. is acquiring Tenet Medicines, announced June 27, 2024. Climb Bio, Inc. is based in Wellesley Hills, Massachusetts, United States.
- How much did Climb Bio, Inc. pay for Tenet Medicines?
- The deal value was not disclosed.
- What does Climb Bio, Inc. do?
- Eliem Therapeutics is developing life-changing therapies for nervous system disorders.
- Where are Climb Bio, Inc. and Tenet Medicines based?
- Climb Bio, Inc. is based in Wellesley Hills, Massachusetts, United States. Tenet Medicines is based in Scotch Plains, New Jersey, United States.
- Who are the decision-makers at Climb Bio, Inc?
- Fundz holds 3 contacts at Climb Bio, Inc. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Tenet Medicines?
Tenet Medicines was acquired by Climb Bio, Inc., based in Wellesley Hills. The deal was reported on June 27, 2024. Eliem Therapeutics is developing life-changing therapies for nervous system disorders. Climb Bio, Inc. is publicly traded (CLYM) and operates in Biotechnology.
When did Climb Bio, Inc. acquire Tenet Medicines?
Climb Bio, Inc.'s acquisition of Tenet Medicines was reported on June 27, 2024. Eliem Therapeutics, Inc. (Nasdaq: ELYM) announces the closing of its acquisition with Tenet Medicines, further strengthening its position as a leading immunology and inflammation company. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Tenet Medicines do?
Tenet Medicines, Inc., is a biopharmaceutical company focused on developing therapeutics for autoimmune diseases. It is privately held, operating in Health Care, and is based in Scotch Plains.
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