Eliem Therapeutics Expands with Tenet Medicines Acquisition

Eliem Therapeutics (ELYM) has issued an update.

Eliem Therapeutics, Inc. has entered into an Acquisition Agreement to take over Tenet Medicines, Inc., with Tenet becoming a subsidiary of Eliem. This move will allow Eliem to expand its therapeutic offerings into autoimmune disorder treatments. To complete this acquisition, Eliem will issue new stock equivalent to 15.4% of its post-closing common stock to Tenet shareholders. Additionally, Eliem has secured agreements from major stakeholders and investors to support the acquisition and has planned a private placement of shares to raise $120 million, which is contingent upon the acquisition’s completion. Moreover, the combined company will see Tenet executives joining Eliem’s leadership, positioning it for strategic growth within the biotech sector.

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