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Eliem Therapeutics Acquires Tenet Medicines and Completes $120 Million Private Placement for Advancing TNT119
Jun 27, 2024•almost 2 years ago
Contract Type
partnership
SeattleBiotechnologyHealth CareTherapeutics
Description
Eliem Therapeutics, Inc. announced the completion of its acquisition of Tenet Medicines along with a $120 million private placement of its common stock. The resulting cash and cash equivalents of approximately $220 million are expected to fund operations into 2027 and enable the potential attainment of key clinical and development milestones for TNT119, an anti-CD19 antibody designed for autoimmune diseases.
Company Information
Company
Eliem Therapeutics
Location
Seattle, Washington, United States
About
Eliem Therapeutics, Inc. is a development-stage biotechnology company focused on immunology and inflammation, with a promising clinical asset across multiple autoimmune diseases targeting markets where there is a need for improved treatment options. With the acquisition of Tenet Medicines, the combined company aims to become a leading immunology and inflammation company, striving to develop novel treatments for a broad range of autoimmune diseases.
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SeattleBiotechnologyHealth CareTherapeutics