Tourmaline Bio reverse merges into Talaris and raises funds to target thyroid eye disease and pharma rivals

Kyle LaHucik

Senior Reporter

Talaris Therapeutics will hand over its spot on the Nasdaq to Tourmaline Bio in a reverse merger to fund trials of an ex-Pfizer drug it hopes can compete with Horizon Therapeutics and Immunovant.

In February, Talaris ended most work on its stem cell therapies for kidney transplant patients and went hunting for alternative paths. The all-stock deal will give Tourmaline $210 million in cash, including a $75 million private placement that will bankroll the new company through 2026 and multiple trials of an anti-IL-6 antibody.

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Tourmaline Bio reverse merges into Talaris and raises funds to target thyroid eye disease and pharma rivals

Kyle LaHucik

Senior Reporter

Unlock this article instantly by becoming a free subscriber.

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Tour­ma­line Bio re­verse merges in­to Ta­laris and rais­es funds to tar­get thy­roid eye dis­ease and phar­ma ri­vals

Senior Reporter

Unlock this article instantly by becoming a free subscriber.

Celldex Therapeutics

Hampton, NJ, USA

Tourmaline Bio reverse merges into Talaris and raises funds to target thyroid eye disease and pharma rivals