Latham & Watkins Advises Terns Pharmaceuticals in US$87 Million Series C Financing

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, has announced the closing of an US$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.

Latham & Watkins LLP represents Terns Pharmaceutical, Inc. with a corporate deal team led by Bay Area partner Brian Cuneo, with Bay Area associates Michael Podolny, Tess Bloom, Taimi Jacobson, and Amanda Dillon and New York associate Nicholas Reist.