LLY Eli Lilly and Co

By Colin Kellaher

Terns Pharmaceuticals Inc. on Wednesday reported positive results of a phase 1 study of TERN-101 in non-alcoholic steatohepatitis, a chronic liver condition commonly known as NASH.

Terns, a privately held biopharmaceutical company backed by Eli Lilly & Co., said the study showed all dose levels of TERN-101 were well tolerated and achieved potentially therapeutic-level target engagement.

Terns in 2018 signed an exclusive licensing agreement with Eli Lilly to develop, manufacture and commercialize three small molecule therapeutic candidates, including TERN-101, for the potential treatment of NASH.

The company said its plans to launch phase 2 studies of TERN-101 in NASH patients in mid-2020.

Terns was launched in April 2017 with $30 million in Series A funding led by Lilly Asia Ventures, whose investors include Eli Lilly. Lilly Asia Ventures also participated in an $80 million Series B financing round in October 2018.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 19, 2020 10:23 ET (15:23 GMT)

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