Cooley advised Tenet Medicines, a development-stage private biotechnology company, on its definitive agreement to be acquired by Eliem Therapeutics (Nasdaq: ELYM), a biotech company focused on developing novel therapies for neuronal excitability disorders to address unmet needs in psychiatry, epilepsy, chronic pain, and other disorders of the peripheral and central nervous systems. The acquisition is expected to close in the middle of 2024, subject to Eliem stockholder approval – including approval by holders of a majority of outstanding shares not held by affiliates of RA Capital Management – and other customary closing conditions.
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