Novartis Acquires Tourmaline Bio for $1.4bn to Bolster Cardiovascular Medicine Portfolio

Novartis has agreed to acquire Tourmaline Bio in a $1.4 billion cash deal, strengthening its push into cardiovascular medicine with a late-stage anti-inflammatory drug candidate, pacibekitug. The therapy targets interleukin-6 and has the potential to reduce cardiovascular risk in patients with atherosclerotic cardiovascular disease. The deal is expected to close in Q4 2025, subject to regulatory clearance and customary conditions.

Basel, September 9, 2025 — Novartis has agreed to acquire Tourmaline Bio, Inc. (Nasdaq: TRML), a New York-based biopharmaceutical company, in a deal valued at approximately $1.4 billion. The acquisition aims to bolster Novartis' cardiovascular portfolio with pacibekitug, an investigational anti-IL-6 monoclonal antibody targeting interleukin-6 (IL-6), a key upstream cytokine that promotes systemic inflammation.

The transaction, expected to close in the fourth quarter of 2025, is subject to regulatory clearance and customary conditions. Novartis will pay $48 per share for Tourmaline Bio, valuing the company at approximately $1.4 billion on a fully diluted basis Novartis to acquire Tourmaline Bio, complementing cardiovascular pipeline with pacibekitug for the treatment of atherosclerotic cardiovascular disease (ASCVD)^[1]. The acquisition will see Tourmaline Bio become an indirect wholly owned subsidiary of Novartis.

Pacibekitug, currently in Phase 2 trials, has shown promising results in reducing high-sensitivity C-reactive protein (hs-CRP) levels by up to 86% in a 90-day study, underscoring its potential to address residual inflammatory risk in atherosclerotic cardiovascular disease (ASCVD) . The drug's once-quarterly administration offers a convenient alternative to existing therapies.

Shreeram Aradhye, President, Development, and Chief Medical Officer at Novartis, commented, "Inflammation is a major driver of cardiovascular disease, and the team at Tourmaline has made significant progress with pacibekitug. We are excited to bring this asset into the Novartis portfolio and collaborate with the Tourmaline team to advance its development."

The acquisition aligns with Novartis' mission to tackle unmet needs in cardiovascular care, particularly in areas such as scaling its xRNA platform and pioneering breakthroughs for genetically driven CVD risk factors and common heart conditions, including atrial fibrillation .

Until the closing of the transaction, Novartis and Tourmaline will continue to operate as separate and independent companies. The acquisition is expected to enhance Novartis' efforts in cardiovascular care, diversifying its portfolio with a differentiated mechanism of action targeting IL-6.

Investors and security holders are urged to carefully read the tender offer materials and the solicitation/recommendation statement on Schedule 14D-9, which will be available on the SEC's website and the respective company websites once the tender offer commences Novartis to acquire Tourmaline Bio, complementing cardiovascular pipeline with pacibekitug for the treatment of atherosclerotic cardiovascular disease (ASCVD)^[1].