03:30 AM EDT, 09/09/2025 (MT Newswires) -- Tourmaline Bio ( TRML ) said Tuesday it has agreed to be acquired by Novartis ( NVS ) for $48 per share in cash, or a total equity value of about $1.4 billion.

Under the deal, a unit of Novartis ( NVS ) will launch a tender offer to acquire all of Tourmaline's outstanding shares. The transaction is expected to be completed in Q4, subject to customary conditions.

In a separate statement, Novartis ( NVS ) said the deal will give it "a phase 3 ready asset which will complement its existing cardiovascular disease portfolio."

Tourmaline shares gained more than 17% in premarket activity Tuesday.