Lilly passes three NASH candidates to its newly-funded biotech startup
Eli Lilly (NYSE: LLY) has offloaded three non-alcoholic steatohepatitis (NASH) programs to Sino-American biotech startup Terns Pharmaceuticals, which will take on global development and commercialization of the small molecule candidates.
The agreement covers TERN-101, a clinical stage farnesoid X receptor (FXR) agonist, and TERN-201, a semicarbazide-sensitive amine oxidase (SSAO) inhibitor the firm says is nearing Investigational New Drug (IND) submission, plus a preclinical candidate.
Terns, which was founded a year ago via a $30 million series A funding round from Lilly Asia Ventures, says it will focus initial development activities on regulatory approval in China and explore clinical development in additional global markets.
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