Eliem Therapeutics, Inc. (Nasdaq: ELYM) (“Eliem”) and Tenet Medicines, Inc. (“Tenet”), a development-stage private biotechnology company, announcedthat the companies have entered into a definitive acquisition agreement whereby Eliem has agreed to acquire Tenet. The combined company plans to focus on advancing TNT119, a potentially best-in class anti-CD19 antibody, designed for a broad range of autoimmune diseases, including systemic lupus erythematosus, immune thrombocytopenia and membranous nephropathy. In support of the acquisition, Eliem has entered into a securities purchase agreement for a $120 million private placement of common stock with a syndicate of new and existing institutional life science investors.
Read the full article: Eliem Therapeutics Announces Agreement to Acquire Tenet Medicines and Concurrent $120M Private Placement //
Source: https://www.globenewswire.com/news-release/2024/04/11/2861368/0/en/Eliem-Therapeutics-Announces-Agreement-to-Acquire-Tenet-Medicines-and-Concurrent-120-Million-Private-Placement.html