TRML News & Events

Novartis (NVS) announced that it has successfully completed its acquisition of Tourmaline Bio (TRML). With the completion of the acquisition, shares of the common stock 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. 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," said Shreeram Aradhye, M.D., President of Development and Chief Medical Officer at Novartis.

Novartis (NVS) announced that its previously announced tender offer by Torino Merger Sub (TRML), a Delaware corporation and an indirect wholly owned subsidiary of Novartis, to acquire all of the outstanding shares of common stock, par value $0.0001 per share, of Tourmaline Bio at a price of $48.00 per Share, in cash, without interest and subject to any applicable withholding, expired at one minute following 11:59 p.m., Eastern Time, on October 27, 2025. The parties expect the transaction to close on October 28, 2025, promptly following the acceptance of all Shares validly tendered and not validly withdrawn pursuant to the offer.

Novartis (NVS) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, HSR Act, in connection with Novartis' previously announced tender offer to acquire all of the outstanding shares of common stock, par value $0.0001 per share, of Tourmaline Bio (TRML), a Delaware corporation, at a price of $48.00 per Share, in cash, without interest and subject to any applicable withholding. The expiration of the HSR Act waiting period occurred at 11:59 p.m., Eastern Time, on October 21, 2025.