Eli Lilly invested directly and through its Lilly Asia Ventures fund, in a round that brought liver disease-focused drug developer Terns' overall funding to $197m.
US-based liver disease therapy developer Terns Pharmaceuticals closed an $87m series C round yesterday backed by pharmaceutical firm Eli Lilly in addition to its Lilly Asia Ventures vehicle.
The round was led by healthcare-focused investment firm Deerfield Management and included OrbiMed, Vivo Capital, Samsara Capital, Suvretta Capital Management and undisclosed new investors.
Terns is working on small molecule drugs for non-alcoholic steatohepatitis (NASH), an advanced form of fatty liver disease that leads to inflammation and scarring.
The company’s lead asset,…
