Novartis Acquires Tourmaline Bio for $1.4 Billion to Bolster Cardiovascular Pipeline

Novartis is acquiring Tourmaline Bio for $1.4 billion, gaining access to the biotech's late-stage cardiovascular drug pacibekitug. The deal offers Tourmaline shareholders $48 per share, a 60% premium to the previous closing price. Wedbush downgraded its rating for Tourmaline to "neutral" due to the acquisition price matching the analyst's price target. Tourmaline Bio shares have surged over 50% following the announcement.

Basel, September 9, 2025 – Pharmaceutical giant Novartis has announced the acquisition of Tourmaline Bio, Inc., a clinical-stage biopharmaceutical company, in a deal valued at approximately USD 1.4 billion. The acquisition will bring pacibekitug, an anti-IL-6 mAb, into Novartis' portfolio, complementing its existing cardiovascular disease treatments.

Tourmaline Bio, based in New York, is focused on developing pacibekitug, an investigational anti-IL-6 IgG2 human monoclonal antibody designed to mitigate systemic inflammation implicated in atherosclerotic cardiovascular disease (ASCVD). The Phase 2 TRANQUILITY 90-day study results showed that pacibekitug reduced median high-sensitivity C-reactive protein (hs-CRP) levels by 85% through day 90 at a dose of 15 mg once monthly and by 86% at a dose of 50 mg delivered quarterly, with overall incidence rates of adverse events and serious adverse events comparable to placebo.

Under the terms of the agreement, Novartis will acquire Tourmaline through a tender offer to purchase all outstanding shares of Tourmaline common stock at USD 48 per share, a 60% premium to the previous closing price. The transaction is expected to close in the fourth quarter of 2025, subject to the satisfaction or waiver of customary closing conditions.

The acquisition aligns with Novartis' mission to reduce preventable cardiovascular deaths. Shreeram Aradhye, President, Development and Chief Medical Officer, Novartis, stated, "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."

Wedbush downgraded its rating for Tourmaline to "neutral" following the announcement, citing that the acquisition price matched the analyst's price target. Tourmaline Bio shares have surged over 50% since the announcement, reflecting investor confidence in the deal.

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Novartis to acquire Tourmaline Bio, complementing ...^[1] https://www.novartis.com/news/media-releases/novartis-acquire-tourmaline-bio-complementing-cardiovascular-pipeline-pacibekitug-treatment-atherosclerotic-cardiovascular-disease-ascvd