Terns Closes $87 Million Series C Financing to Advance NASH Portfolio

Terns Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis (NASH) and other chronic liver diseases, today announced the closing of an $87 million Series C financing. The financing round was led by Deerfield Management Company alongside a strategic equity investment by Eli Lilly and Company with participation from OrbiMed Advisors, Lilly Asia Ventures, Vivo Capital, Samsara Capital, Suvretta Capital Management and several other new investors. Elise Wang, Partner at Deerfield, has joined the Terns Pharmaceuticals Board of Directors.