secwatch.observer — SEC 8-K summary
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Issuer:     Climb Bio, Inc. (CLYM)
CIK:        0001768446
Form:       8-K
Filed at:   2024-06-27T23:59:59+00:00
Accession:  0001193125-24-170599
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 3.02, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eliem closes acquisition of Tenet Medicines, gains TNT119 autoimmune drug, raises $120M PIPE
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1768446/000119312524170599/0001193125-24-170599-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1768446/000119312524170599/d692630d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-170599

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer