Lilly-Backed Terns Gets FDA Fast-Track Designation for TERN-201 in NASH

Terns Pharmaceuticals Inc. on Tuesday said the U.S. Food and Drug Administration granted fast-track designation to TERN-201 for the treatment of non-alcoholic steatohepatitis, a chronic liver condition commonly known as NASH.

The privately held biopharmaceutical company last year signed an exclusive licensing agreement with Eli Lilly & Co. (LLY) to develop, manufacture and commercialize three small molecule therapeutic candidates, including TERN-201, for the potential treatment of NASH.

The FDA’s fast-track program is designed to facilitate the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need.

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.

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