In April 2024, Eilem entered into a definitive acquisition agreement to acquire Tenet Medicines, a development-stage private biotechnology company. 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.

Following the closing, the total cash and cash equivalents of the combined company are expected to be approximately $210 million, which the company expects will be sufficient to fund planned operations into 2027.