Completion of Merger Between Tourmaline Bio, Inc. and Novartis AG

Tourmaline Bio, Inc. has completed its previously announced merger with Novartis AG, as per the Agreement and Plan of Merger dated September 8, 2025. The merger was effected through a cash tender offer by Torino Merger Sub Inc., an indirect wholly owned subsidiary of Novartis AG, to acquire all outstanding shares of Tourmaline Bio, Inc. at $48.00 per share. The offer expired on October 27, 2025, with 92.94% of shares tendered. Following the merger, Tourmaline Bio, Inc. became an indirect wholly owned subsidiary of Novartis AG. The merger also led to the resignation of several directors and officers of Tourmaline Bio, Inc., and the appointment of new directors and officers. The company's shares were delisted from the Nasdaq Global Select Market, and it intends to deregister its shares under the Securities Exchange Act of 1934.