Novartis to acquire Tourmaline Bio in deal valuing it at $1.4 billion

Tourmaline Bio

09/09/2025 06:07

BERLIN, Sept 9 (Reuters) - Switzerland's Novartis NOVN.S will acquire Tourmaline Bio TRML.O with an offer price of $48 per share, in a deal valuing the New York-based company at $1.4 billion on a fully diluted basis, it said on Tuesday.

Novartis said it expected the deal to close in the fourth quarter and for Tourmaline to become an indirect, wholly owned subsidiary.

 (Writing by Miranda Murray; Editing by Jamie Freed)

 ((Miranda.Murray@thomsonreuters.com;))