April 11 (Reuters) - Eliem Therapeutics Inc ( ELYM ):

* ELIEM THERAPEUTICS ANNOUNCES AGREEMENT TO ACQUIRE TENET

MEDICINES AND CONCURRENT $120 MILLION PRIVATE PLACEMENT

* ELIEM THERAPEUTICS INC ( ELYM ) - COMBINED COMPANY EXPECTED TO HAVE

APPROXIMATELY $210 MILLION OF CASH AND CASH EQUIVALENTS

* ELIEM THERAPEUTICS INC ( ELYM ) - COMBINED COMPANY PLANS TO FOCUS

ON

ADVANCING TNT119

* ELIEM THERAPEUTICS INC ( ELYM ) - TENET STOCKHOLDERS ARE ENTITLED

TO

RECEIVE SHARES OF ELIEM'S COMMON STOCK UPON CLOSING OF

ACQUISITION

* ELIEM THERAPEUTICS INC ( ELYM ) - TENET STOCKHOLDERS ARE ENTITLED

TO

RECEIVE SHARES OF ELIEM'S COMMON STOCK UPON CLOSING OF

ACQUISITION

* ELIEM THERAPEUTICS INC ( ELYM ) - PRE-ACQUISITION TENET

EQUITYHOLDERS ARE

EXPECTED TO OWN APPROXIMATELY 15% OF COMBINED COMPANY

* ELIEM THERAPEUTICS INC ( ELYM ) - AND PRE-ACQUISITION ELIEM

EQUITYHOLDERS

ARE EXPECTED TO OWN APPROXIMATELY 85% OF COMBINED COMPANY

* ELIEM THERAPEUTICS INC ( ELYM ) - ACQUISITION AGREEMENT HAS BEEN

UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES

* ELIEM THERAPEUTICS INC ( ELYM ) - IN PRIVATE PLACEMENT, ELIEM HAS

AGREED

TO SELL 31,238,282 SHARES OF ITS COMMON STOCK AT A PRICE OF

$3.84 PER SHARE

* ELIEM THERAPEUTICS ( ELYM )- COMBINED CO TO INITIATE PHASE 2 TRIALS

OF

TNT119 FOR TREATING SYSTEMIC LUPUS ERYTHEMATOSUS AND IMMUNE

THROMBOCYTOPENIA IN H2 2024

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