GENFIT, Terns Pharmaceuticals to Commercialize Elafibranor in China

GENFIT has signed a licensing and collaboration agreement with Terns Pharmaceuticals to develop novel and combination therapies to treat liver disease.  Under the agreement, Terns will have the rights to develop and commercialize elafibranor, GENFIT’s pcompound, in Greater China, for the treatment of non-alcoholic steatohepatitis (NASH) and primary biliary cholangitis (PBC).

Under the terms of the licensing agreement, GENFIT will receive an upfront payment from Terns of $35 million and will be eligible to receive up to $193 million in potential clinical, regulatory and commercial milestones. Upon commercial launch, GENFIT will be entitled to receive royalties on sales in the territory. GENFIT and Terns will also undertake joint R&D projects in liver disease, including the development of elafibranor in combination with Terns’ proprietary compounds.

Pascal Prigent, Executive Vice President Marketing and Commercial Development of GENFIT said, "The Terns management team has a strong track record at global pharma and biotech companies, combined with a good understanding of key scientific, regulatory and commercial challenges in China, which gives us a strong level of confidence as to what we can achieve in China through this strategic partnership. We believe mutual alignment on upcoming strategic development steps and priorities paves the way for a bright future together." 

Weidong Zhong, PhD., President and CEO of Terns Pharmaceuticals, added, "Since our founding, we have been focused on taking a comprehensive approach to treating liver disease and NASH, and have been working hard to identify compounds with strong, complementary mechanisms of action to add to our portfolio. We are excited to work with GENFIT to advance elafibranor as the leading treatment for NASH and PBC in the Greater China region and as the basis for building future combination NASH therapies. We value the experience and accomplishments of GENFIT on disease awareness and non-invasive diagnosis which are essential for the management of NASH patients in all markets and look forward to a productive partnership between our two companies as we seek to improve treatment options for patients living with chronic liver disease."

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