Deal facts
- Buyer
- Novartis AG
- Target
- Tourmaline Bio, Inc.
- Deal value
- USD 1,153,403,296
- Announced
- 8 September 2025
- Status
- Completed
- Sector
- Healthcare
- Country
- United States
- Consideration
- cash
Sources
Weekly digest
Join Exit Mode Insider
Ten deal briefs a week, founder commentary, and the patterns worth paying attention to.
Join Exit Mode Insider, £12/moDeal timeline
1 update- CompletedClosed
Novartis AG completes acquisition of Tourmaline Bio, Inc.
Introductory Note This Current Report on Form 8-K is being filed in connection with the completion of the previously announced Merger (as defined below) pursuant to the Agreement and Plan of Merger, dated as of September 8, 2025 (the “ Merger Agreement ”), by and among Tourmaline Bio, Inc., a Delaware corporation (the “ Company ”), Novartis AG, a company limited by shares ( Aktiengesellschaft ) in
Source
Explore
Browse adjacent archives
Jump from this deal into the sector, buyer, deal type, and year views that carry the strongest contextual signal.
Similar deals
Similar deals
Other Healthcare M&A activity tracked by Exit Mode.
Merck to acquire Terns Pharmaceuticals, Inc.
Merck and Terns Pharmaceuticals, Inc. entered the Exit Mode archive.
- Buyer
- Merck
- Target
- Terns Pharmaceuticals, Inc.
- Deal value
- Not disclosed
- Deal type
- going private
BioMarin Pharmaceutical Inc. to acquire Amicus Therapeutics, Inc.
BioMarin Pharmaceutical Inc. and Amicus Therapeutics, Inc. entered the Exit Mode archive.
- Buyer
- BioMarin Pharmaceutical Inc.
- Target
- Amicus Therapeutics, Inc.
- Deal value
- Not disclosed
- Deal type
- going private
Servier to acquire Day One Biopharmaceuticals, Inc.
Servier and Day One Biopharmaceuticals, Inc. entered the Exit Mode archive.
- Buyer
- Servier
- Target
- Day One Biopharmaceuticals, Inc.
- Deal value
- USD 2,500,000,000
- Deal type
- going private
Aurinia Pharma U.S., Inc. to acquire Kezar Life Sciences, Inc.
Aurinia Pharma U.S., Inc. and Kezar Life Sciences, Inc. entered the Exit Mode archive.
- Buyer
- Aurinia Pharma U.S., Inc.
- Target
- Kezar Life Sciences, Inc.
- Deal value
- Not disclosed
- Deal type
- going private
Abbott to acquire Exact Sciences Corp
Abbott and Exact Sciences Corp entered the Exit Mode archive.
- Buyer
- Abbott
- Target
- Exact Sciences Corp
- Deal value
- Not disclosed
- Deal type
- going private
Buyer history
Novartis AG
See every published Exit Mode archive entry where this buyer appears.
View buyer profileMethodology
How this page is built
Layer 1 facts come from source documents, Layer 2 turns those facts into a readable narrative, and Layer 3 only appears where the editorial team flags a founder-relevant deal.
Back to the archive