Terns Pharmaceuticals – TERN-501 (THR-β agonist, Phase 1); TERN-101 (FXR agonist, Phase 2a)

• TERN-501 will be Terns’ third NASH candidate to enter clinical trials in the US
• The molecule enhanced metabolic stability and liver distribution, characteristics that are intended to improve safety and efficacy in NASH patients
• Trial is designed to incorporate both single ascending dose and multiple ascending dose cohorts to assess the safety, tolerability, and pharmacokinetics of TERN-501, as well as the reduction in serum lipid levels as an early marker of target engagement

Jan 12, 2021: Terns completed enrollment in Phase 2a clinical trial of TERN-101 in NASH patients

• Enrollment was completed in LIFT study. Trial details: TERN-101 vs Placebo; N=101; Primary outcome: Incidence of adverse events; Active, not recruiting; Location: US
• TERN-101 has demonstrated a differentiated tolerability profile and improved target engagement in the liver

Jan 05, 2021: Terns closed $87 million Series C financing to advance its NASH portfolio.

• The financing round was led by Deerfield Management Company alongside a strategic equity investment by Eli Lilly with participation from OrbiMed Advisors, Lilly Asia Ventures, Vivo Capital, Samsara Capital, Suvretta Capital Management and several other new investors