Tourmaline, Talaris Announce All-stock Merger

(RTTNews) - Talaris Therapeutics, Inc. (TALS) and Tourmaline Bio, Inc. have entered into a definitive agreement under which Tourmaline will combine with Talaris in an all-stock deal. The combined company will operate under the name Tourmaline Bio, Inc. and trade on the Nasdaq under the ticker symbol, TRML. The combined company will focus on advancing Tourmaline's lead program, TOUR006, for the treatment of thyroid eye disease and atherosclerotic cardiovascular disease.

Tourmaline stockholders prior to the merger are expected to own approximately 78.7% of the combined company and Talaris stockholders are expected to own approximately 21.3% of the combined company. The combined company will be led by current members of the Tourmaline leadership team.

Tourmaline stockholders will receive shares of Talaris common stock upon the consummation of the merger. Talaris plans making a cash dividend of up to approximately $64.8 million to its stockholders prior to the closing of the merger.

TOUR006 was licensed by Tourmaline from Pfizer Inc. in 2022.

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