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Terns Raises $87m More For NASH R&D, Including Lilly Equity Purchase

 
• By Joseph Haas

In its third venture funding round, Terns adds backing from Deerfield in addition to Lilly’s investment. It licensed three non-alcoholic steatohepatitis candidates from the big pharma in 2018.

Financial Investment
Deerfield and Eli Lilly are notable names among Terns' series C investors

Chinese/US biotech Terns Pharmaceuticals, Inc. unveiled an $87m series C financing on 5 January, bringing it substantial capital to advance its three-candidate pipeline for non-alcoholic steatohepatitis, with an eye on both monotherapy and possible combinations that address multiple manifestations of the disease such as hepatic fat, fibrosis and inflammation. Based in both Foster City, CA, and Shanghai, Terns is focused primarily on NASH and other liver indications, but also has a nascent cancer program.

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