Eliem Therapeutics completed the acquisition of Tenet Medicines.

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.