June 24 Company Quick Takes: Terns gains Chinese rights to elafibranor; plus venetoclax, Zejula and more

Terns gets Chinese rights to Genfit's liver disease candidate
Terns Pharmaceuticals Inc. (San Mateo, Calif.) licensed rights to elafibranor (GFT505) from Genfit S.A. (Euronext:GNFT; NASDAQ:GNFT) to treat non-alcoholic steatohepatitis and primary biliary cholangitis in China, Hong Kong, Macao and Taiwan. Genfit will receive $35 million up front and is eligible for up to $193 million in milestones plus mid-teen royalties. The companies will also partner on future R&D in liver diseases.

Venetoclax trial given FDA OK to restart...