In its third venture funding round, Terns adds backing from Deerfield in addition to Lilly’s investment. It licensed three non-alcoholic steatohepatitis candidates from the big pharma in 2018.

Recent development upheaval in non-alcoholic steatohepatitis has created opportunity for new approaches, and Poxel thinks its AMPK activator may address several NASH-related pathologies.

Enanta hoped its Phase II study would indicate a better efficacy and/or tolerability profile for EDP-305 compared to other FXR agonists for NASH, including Intercept’s OCA. Despite the inconclusive data, it plans a longer Phase IIb study.

Dainippon Sumitomo suffers major Phase III setback for one of its key oncology prospects, and although the former Boston Biomedical asset will carry on in other planned indications, the Japanese firm may have to look for ways to fill the gap.