Tourmaline Bio Inc. has agreed to be acquired by Nov Artis AG in a deal worth $1.4 billion, with Nov Artis paying $48 per share in cash, a 59% premium over Tourmaline’s last closing price.

Tourmaline Bio Inc. will present topline results from its Phase 2 TRANQUILITY trial on May 20, 2025, evaluating the efficacy of pacibekitug in patients with chronic kidney disease and elevated inflammatory markers.