Swiss pharma major Novartis has agreed to acquire Tourmaline Bio in an all-cash deal that values the US-based clinical-stage biopharmaceutical company at around $1.4bn.
Through the deal, Novartis aims to enhance its cardiovascular portfolio.
Tourmaline Bio is developing pacibekitug, an anti-IL-6 monoclonal antibody, for the treatment of atherosclerotic cardiovascular disease.
Pacibekitug works by targeting IL-6, a key upstream cytokine that promotes systemic inflammation, which aligns with Novartis’ cardiovascular strategy.
The drug candidate, which has shown its potential in a Phase 2 trial, is expected to support Novartis in addressing a crucial unmet need in the treatment of atherosclerotic cardiovascular disease (ASCVD).
Also, it has shown efficacy in reducing high-sensitivity C-reactive protein levels, offering an effective treatment for residual inflammatory risk in cardiovascular care.
Currently ready for Phase 3 trials, pacibekitug offers convenient quarterly administration with comparable safety to placebo, said Novartis.
Novartis development president and chief medical officer Shreeram Aradhye said: “With no widely adopted anti-inflammatory therapies currently available for cardiovascular risk reduction, pacibekitug represents a potential breakthrough in addressing residual inflammatory risk in ASCVD.
“Inflammation is a major driver of cardiovascular disease, and the team at Tourmaline has made significant progress with this asset.
“We are excited to bring pacibekitug into the Novartis portfolio and collaborate with the Tourmaline team to advance its development as we diversify our efforts in cardiovascular care.”
Under the terms of the deal, Novartis will purchase all outstanding shares of Tourmaline at $48 each. Presently, Tourmaline is listed on Nasdaq.
The consideration reflects a 59% premium to the closing stock price of Tourmaline on 8 September 2025, the last trading day before the deal was announcement. It is also a 127% premium to the firm’s 60-day volume-weighted average stock price as of that same date.
Tourmaline co-founder and CEO Sandeep Kulkarni said: “Our mission at Tourmaline has been to establish new standards of care in areas of high unmet medical need, and today’s transaction announcement both underscores our commitment to that focus and also delivers compelling shareholder value.
“We are thrilled that Novartis, a company with deep roots and a commitment to innovation in the cardiovascular, renal, and metabolic disease space, will continue to advance this mission.
“Novartis shares our conviction in the critical, but largely unaddressed, role of inflammation in driving cardiovascular diseases and will be an ideal partner to accelerate the development of pacibekitug.”
The transaction, approved by both companies’ boards, is expected to close in Q4 2025, subject to regulatory approvals and other conditions.
Both companies will maintain independent operations until closing.
Upon closing, Tourmaline will become an indirectly owned subsidiary of Novartis.
In May this year, Novartis announced the agreement to acquire US-based biopharmaceutical company Regulus Therapeutics for up to $1.7bn.
Regulus is a clinical-stage biopharmaceutical company focused on microRNA therapeutics for autosomal dominant polycystic kidney disease (ADPKD).
