# Terns Pharmaceuticals funding: rounds and investors > Terns Pharmaceuticals has raised $730M across 2 rounds since 2018. Investors include Vivo Capital, OrbiMed and Eli Lilly. Every round with its source. Source: https://millionrounds.com/company/terns-pharmaceuticals (Millionrounds; every figure on the page links to its filing or article) United States · [Funded startup](https://millionrounds.com/companies) # Who invested in *Terns Pharmaceuticals* 2 rounds we have observed, with the 6 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Biotech Healthcare Raised 11 months ago Funding summary Updated 26 Oct 2026 **$730M** raised across 2 rounds since 2018, from 2 sources **$80M** Series B **$650M** Round - **Latest round:** Round, $650M Dec 2025 - **Step-up i:** 8.1× - **Investors:** 6 See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2019 2020 2021 2022 2023 2024 2025 **$80M** Series B **$650M** Round - **First round:** Series B, $80M - **Biggest round:** $650M - **Between rounds:** 7.1 years ## The rounds - **Dec 2025** Round **$650M** *3 new* *1 returning* [OrbiMed](https://millionrounds.com/fund/orbimed) [Vivo Capital](https://millionrounds.com/fund/vivo-capital) [Eli Lilly](https://millionrounds.com/fund/eli-lilly) [Lilly Asia Ventures](https://millionrounds.com/fund/lilly-asia-ventures) Source recorded - **Oct 2018** Series B **$80M** *3 new* [Vivo Capital](https://millionrounds.com/fund/vivo-capital) [Lily Asia](https://millionrounds.com/fund/lily-asia) Orbimed/ Decheng Reported by Bioworld ## Founders and team From the SEC filings it signed: 4 on the team. - **Bryan Yoon** Executive Officer i - **Mark Vignola** Executive Officer i - **Senthil Sundaram** Director, Executive Officer i - **Weidong Zhong** Executive Officer, Director i On the board, as filed i *Carl Gordon* *David Fellows* *Elise Wang* *Hongbo Lu* *Jeffrey Kindler* *Jill Quigley* *Yi Shi* ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Series B** 2018 **Round** 2025 [Vivo Capital](https://millionrounds.com/fund/vivo-capital) [OrbiMed](https://millionrounds.com/fund/orbimed) [Eli Lilly](https://millionrounds.com/fund/eli-lilly) [Lilly Asia Ventures](https://millionrounds.com/fund/lilly-asia-ventures) [Lily Asia](https://millionrounds.com/fund/lily-asia) Orbimed/ Decheng ## Everyone who backed them [Vivo Capital](https://millionrounds.com/fund/vivo-capital) Private equity **2** rounds [OrbiMed](https://millionrounds.com/fund/orbimed) Private equity **1** round [Eli Lilly](https://millionrounds.com/fund/eli-lilly) Corporate VC **1** round [Lilly Asia Ventures](https://millionrounds.com/fund/lilly-asia-ventures) VC firm **1** round [Lily Asia](https://millionrounds.com/fund/lily-asia) Investment firm **1** round Orbimed/ Decheng no record of our own yet **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=terns-pharmaceuticals). ## Also claim to have backed them This firm lists Terns Pharmaceuticals as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above. [Decheng Capital](https://millionrounds.com/fund/decheng-capital) VC firm Per its own site ## Quick answers about Terns Pharmaceuticals ### Who invested in Terns Pharmaceuticals? Terns Pharmaceuticals's investors include Vivo Capital, OrbiMed, Eli Lilly, Lilly Asia Ventures and Lily Asia, and 1 more on record. ### How much has Terns Pharmaceuticals raised? Terns Pharmaceuticals has raised $730M across 2 rounds since 2018. ### When did Terns Pharmaceuticals last raise? Terns Pharmaceuticals's most recent round was an Undisclosed round of $650M in Dec 2025. ### What was Terns Pharmaceuticals's biggest round? Its most recent round, $650M in Dec 2025, is also its largest on record. ### Who backed Terns Pharmaceuticals first? Terns Pharmaceuticals's first round on record, in Oct 2018, was backed by Vivo Capital, Lily Asia and Orbimed/ Decheng. ### What stage is Terns Pharmaceuticals at? Terns Pharmaceuticals's latest named round is an Undisclosed round, in Dec 2025. ### Where is Terns Pharmaceuticals based? Terns Pharmaceuticals is based in the United States. ## Companies like Terns Pharmaceuticals In the same sector, and raised in the last eighteen months. 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