RCS - RTW Biotech Opp. - Portfolio Company Update: Tourmaline Bio

RTW Biotech OpportunitiesAnnouncement

30/06/2023 10:00

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RNS Number : 5451E  RTW Biotech Opportunities Ltd  30 June 2023

LEI: 549300Q7EXQQH6KF7Z84

30 June 2023

RTW Biotech Opportunities Ltd

Portfolio Company Update: Tourmaline Bio

Tourmaline Bio enters a definitive agreement to merge with Talaris
Therapeutics and start trading on Nasdaq

RTW Biotech Opportunities Ltd (the "Company"), a London Stock
Exchange-listed investment fund focused on identifying transformative assets
with high growth potential across the life sciences sector, is pleased to note
the announcement by Tourmaline Bio, Inc. ("Tourmaline") that it has entered
into a definitive agreement under which Tourmaline will combine with Talaris
Therapeutics, Inc. (Nasdaq: TALS) ("Talaris") in an all-stock transaction. The
combined company will focus on advancing Tourmaline's lead program, TOUR006,
an anti-IL-6 antibody with best-in-class potential for the treatment of
thyroid eye disease (TED) and atherosclerotic cardiovascular disease (ASCVD).
Upon completion of the merger, the combined company will operate under the
name "Tourmaline Bio," Inc. and trade on the Nasdaq under the ticker symbol
"TRML." Full details of the agreement can be found in the companies' joint
announcement here
(https://www.tourmalinebio.com/talaris-therapeutics-and-tourmaline-bio-announce-merger-agreement/)
.

Tourmaline Bio is a late-stage clinical biotechnology company driven by its
mission to develop transformative medicines that dramatically improve the
lives of patients with life-altering immune diseases. This merger and the
concurrent $75 million private placement will provide the company with a cash
runway through 2026 and support continued development of TOUR006 through
multiple clinical trials in TED, ASCVD, and potential additional indications.

RTW Biotech Opportunities Ltd (formerly called "RTW Venture Fund Limited")
participated in Tourmaline's $112 million Series A financing round earlier
this year.

Roderick Wong, M.D., Managing Partner and Chief Investment Officer at the
Investment Manager, said:

"We welcome the combination of these companies, which will provide additional
resources to developing Tourmaline's TOUR006 anti-IL-6 antibody. The program
has shown great promise for patients with TED and ASCVD and we look forward to
our continued partnership with Tourmaline and its leadership team as they
continue to advance TOUR006 through their Phase 2 development program."

 

For Further Information:

 RTW Investments, LP                       +44 20 7959 6361
 Woody Stileman, Managing Director

 Krisha McCune, Director, Client Service

 Buchanan                                  +44 20 7466 5107
 Charles Ryland
 Henry Wilson
 George Beale

 Numis                                     +44 20 7260 1000
 Freddie Barnfield
 Nathan Brown
 Euan Brown

 BofA Securities                           +44 20 7628 1000
 Edward Peel
 Kieran Millar

 Cadarn Capital                            +44 73 6888 3211
 David Harris

 

About RTW Biotech Opportunities Ltd:

RTW Biotech Opportunities (LSE: RTW & RTWG) is an investment fund focused
on identifying transformative assets with high growth potential across the
life sciences sector. Driven by a long-term approach to support innovative
businesses, RTW Biotech Opportunities invests in companies developing
next-generation therapies and technologies that can significantly improve
patients' lives. RTW Biotech Opportunities Ltd is managed by RTW
Investments, LP, a leading healthcare-focused entrepreneurial investment firm
with deep scientific expertise and a strong track record of supporting
companies developing life-changing therapies.

Visit the RTW website at www.rtwfunds.com (http://www.rtwfunds.com/)  for
more information.

 

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The information in this announcement may include forward-looking statements,
which are based on the current expectations and projections about future
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***********

 

 

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