Novartis has completed its acquisition of Tourmaline Bio, a New York-based clinical-stage bio/pharmaceutical company, for $1.4 billion. The deal was announced in September 2025.  

Tourmaline’s lead candidate is pacibekitug, an anti-IL-6 monoclonal antibody as a treatment option for atherosclerotic cardiovascular disease (ASCVD). It is designed to mitigate systemic inflammation implicated in ASCVD. With Phase II trials already well advanced, the acquisition provides Novartis with a Phase III-ready asset to complement its existing cardiovascular disease portfolio 

Under the agreement, Novartis, through an indirect wholly owned subsidiary (Torino Merger Sub.), acquired approximately 24,030,382 shares for $48 each, representing approximately 92.94% of the issued and outstanding shares, for a total value of $1.2 billion. In accordance with the terms of the tender offer, all shares that were validly tendered and not validly withdrawn have been accepted for payment and paid for.   

Source: Novartis