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Talawar Therapeutics to merge with JATT II in $285M deal
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Talawar Therapeutics to merge with JATT II in $285M deal

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  • Talawar Therapeutics and JATT II (NASDAQ:JATT) signed a definitive business combination agreement to create a Nasdaq-listed biotech expected to trade as TLWR in the second half of 2026.
  • The transaction includes a $225 million oversubscribed PIPE at $10 per share and $60 million in JATT II trust, for $285 million gross proceeds, assuming no redemptions.
  • Proceeds will fund lead bispecific antibody TALA-125 for atopic dermatitis through Phase 2b proof-of-concept data in 2H 2028.

Talawar Therapeutics and JATT II (NASDAQ:JATT) have entered into a definitive business combination agreement to create a Nasdaq-listed biotechnology company expected to trade as TLWR in the second half of 2026.

The deal includes a $225 million oversubscribed PIPE at $10 per share and $60 million in JATT II trust, resulting in approximately $285 million gross proceeds assuming no redemptions.

The available cash at closing is anticipated to fund lead bispecific antibody TALA-125 for atopic dermatitis through a Phase 2b proof-of-concept data readout in 2H 2028.

TALA-125 is expected to enter the clinic in 1Q 2027, with interim Phase 1 data anticipated in 4Q 2027.

Talawar also advances discovery programs TALA-307 and TALA-711 in additional immunology indications.

The combined company will focus on developing novel bispecific antibodies for inflammatory and immunological diseases with high unmet medical needs.

The transaction is subject to customary closing conditions and is expected to close in the second half of 2026.