Novartis has agreed to acquire Tourmaline Bio, a New York-based clinical-stage bio/pharmaceutical company, for $1.4 billion. 

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, Novartis will acquire a Phase III-ready asset which will complement its existing cardiovascular disease portfolio. 

Under the agreement, Novartis will, through an indirect wholly owned subsidiary, commence a tender offer to purchase all outstanding shares of Tourmaline common stock. Holders of Tourmaline common stock would receive $48 per share in cash at closing. 

Following completion of the tender offer, Novartis expects to merge the acquiring subsidiary with and into Tourmaline, resulting in Tourmaline becoming an indirect wholly owned subsidiary of Novartis. 

The transaction is expected to close in the fourth quarter of 2025, subject to the satisfaction or waiver of customary closing conditions, including the tender of a majority of the outstanding shares of Tourmaline common stock and the receipt of regulatory approvals.  

Source: Novartis