Talaris Signed a Definitive Merger Agreement with Tourmaline Bio to Advance TOUR006 for Thyroid Eye Disease and Atherosclerotic Cardiovascular Disease
Shots:
- The combined company is expected to have ~$210M in cash incl. ~$75M from a concurrent private placement with leading life sciences investors. Talaris' stockholders are expected to receive ~$3.43 per Talaris share, incl. a cash dividend of ~$64.8M while the transaction is expected to be close in Q4’23
- The combined company will operate as Tourmaline Bio & trade on the Nasdaq under the ticker symbol “TRML”. Tourmaline stockholders will own ~78.7% & Talaris' stockholders will own ~21.3% of the combined company on a fully diluted basis.
- The combined company will focus on advancing Tourmaline’s TOUR006 for TED & ASCVD. The P-IIb trial of TOUR006 is expected to be initiated in Q3’23 for TED & P-II trial for ASCVD in 2024
Ref: Globenewswire | Image: Talaris
Related News:- Horizon Presents New P-IV Trial Results of Tepezza (teprotumumab-trbw) for the Treatment of Thyroid Eye Disease at ENDO 2023
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
