Novartis to buy US clinical-stage biopharmaceutical firm Tourmaline for $1.4bn

(Sharecast News) - Swiss pharmaceutical firm Novartis said on Tuesday that it has agreed to buy US clinical-stage biopharmaceutical company Tourmaline Bio for $1.4bn. Tourmaline is focused on developing pacibekitug, an anti-IL-6 mAb, as a treatment option for atherosclerotic cardiovascular disease.

Novartis said that pacibekitug complements its cardiovascular strategy by targeting IL-6, a key upstream cytokine that promotes systemic inflammation, addressing a critical unmet need.

"With Phase 2 trials already well advanced, Novartis will acquire a Phase 3 ready asset which will complement its existing cardiovascular disease portfolio," the company said.

Shreeram Aradhye, president, development and chief medical officer at Novartis, 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 with a differentiated mechanism of action targeting IL-6.

"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."

At 0945 BST, Tourmaline shares were up 57% in pre-market trade at $47.30.