8-K filed June 27, 2024, 7:59 PM ET ticker CLYM CIK 0001768446

M&A confidence high sentiment neutral materiality 0.85

Climb Bio, Inc. (CLYM): M&A transaction — Eliem closes acquisition of Tenet Medicines, gains TNT119 autoimmune drug, raises $120M PIPE

Climb Bio, Inc.

Acquisition of Tenet closed June 27; 5,560,047 Eliem shares issued to Tenet equityholders.
PIPE of 31,238,282 shares raised ~$120M gross; proceeds to fund TNT119 development.
Lead asset TNT119 (budoprutug) licensed from Acelyrin; up to $157.5M in milestone payments plus royalties.
New CEO Aoife Brennan appointed effective close; Stephen Thomas joins board and as consultant.
Tenet also assumed CRH license with up to £106.8M milestones and ProBioGen cell line agreement.

item 1.01 item 2.01 item 3.02 item 5.02 item 7.01 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Stephen Thomas

Director

CLYM · Climb Bio, Inc.

Effective: 2024-06-27
Filed: June 27, 2024, 7:59 PM ET

the Board elected Stephen Thomas, Ph.D., the then-Chief Executive Officer of Tenet, to serve as a director on the Board, subject to and contingent and effective upon the closing of the Acquisition, from the Effective Date until the Company’s 2025 annual meeting of stockholders and thereafter until his successor has been duly elected and qualified or until his earlier death, resignation or removal.

Appointed

Aoife Brennan

Director

CLYM · Climb Bio, Inc.

Effective: 2024-06-27
Filed: June 27, 2024, 7:59 PM ET

In addition, Dr. Brennan was elected as a director to serve on the Board from the Effective Date until the Company’s 2027 annual meeting of stockholders and thereafter until her successor has been duly elected and qualified or until her earlier death, resignation or removal.

Appointed

Aoife Brennan

President and Chief Executive Officer

CLYM · Climb Bio, Inc.

Effective: 2024-06-27
Filed: June 27, 2024, 7:59 PM ET

the Company’s Board of Directors (the “Board”) appointed Aoife Brennan, M.B., Ch.B., as President and Chief Executive Officer of the Company, effective upon the closing of the Acquisition (the “Effective Date”).

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen Thomas was elected as Director at Climb Bio, Inc..

Action: elected
Role: Director

Exact text from the filing

the Board elected Stephen Thomas, Ph.D., the then-Chief Executive Officer of Tenet, to serve as a director on the Board, subject to and contingent and effective upon the closing of the Acquisition, from the Effective Date until the Company’s 2025 annual meeting of stockholders and thereafter until his successor has been duly elected and qualified or until his earlier death, resignation or removal.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Aoife Brennan was elected as Director at Climb Bio, Inc..

Action: elected
Role: Director

Exact text from the filing

In addition, Dr. Brennan was elected as a director to serve on the Board from the Effective Date until the Company’s 2027 annual meeting of stockholders and thereafter until her successor has been duly elected and qualified or until her earlier death, resignation or removal.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Aoife Brennan was appointed as President and Chief Executive Officer at Climb Bio, Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

the Company’s Board of Directors (the “Board”) appointed Aoife Brennan, M.B., Ch.B., as President and Chief Executive Officer of the Company, effective upon the closing of the Acquisition (the “Effective Date”).

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Climb Bio, Inc. completed an acquisition involving Tenet Medicines, Inc. (closed 2024-06-27).

Action: acquisition
Counterparty: Tenet Medicines, Inc.
Closing: 2024-06-27

Exact text from the filing

On June 27, 2024, the Company completed its acquisition of Tenet in accordance with the terms of the Acquisition Agreement.

View on SEC.gov

31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Climb Bio, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-170599

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.