Novartis completes acquisition of Tourmaline Bio

Tourmaline is now an indirect wholly owned subsidiary of Novartis

Novartis has successfully completed its acquisition of Tourmaline Bio (Tourmaline).

With the completion of the acquisition, shares of common stock, par value $0.0001 per share,  of Tourmaline, have ceased trading on the Nasdaq Stock Market and Tourmaline is now an indirect wholly owned subsidiary of Novartis.

“The acquisition of Tourmaline Bio aligns with our strategy to deepen expertise in areas where Novartis can lead and add value in cardiovascular innovation,” said Shreeram Aradhye, M.D., President of Development and Chief Medical Officer at Novartis.

“Pacibekitug’s differentiated anti-IL-6 mechanism offers a scientifically compelling approach to residual inflammation – a key driver of atherosclerotic cardiovascular disease. We look forward to collaborating with Tourmaline’s team to further advance this promising asset and continue strengthening our ability to deliver potentially transformative therapies for diseases with high unmet need.”