Foley Represents TCGX as Investor in Tourmaline Bio, Concurrent with Merger with Talaris Therapeutics

Foley & Lardner LLP represented TCGX as an investor in the $75 million private placement for Tourmaline Bio, concurrent with the company’s merger with Talaris Therapeutics. Additional investors included Acuta Capital Partners, Affinity Asset Advisors, Braidwell LP, Cowen Healthcare Investments, Deep Track Capital, Great Point Partners, LLC, KVP Capital, Logos Capital, Paradigm BioCapital, Qiming Venture Partners USA, RA Capital Management, LP, StemPoint Capital LP, Vivo Capital, and other undisclosed investors. 

Tourmaline is a late-stage clinical biotechnology company developing transformative medicines to dramatically improve the lives of patients with life-altering immune diseases. Upon completion of the merger with Talaris, the combined company now operates under the name, Tourmaline Bio, Inc. The company began trading under the ticker symbol “TRML” on the Nasdaq Global Market on October 20, 2023.

TCG Crossover (“TCGX”) is a Palo Alto-based investment firm focused on investing in innovative pre-IPO and public drug discovery companies. TCGX invests in visionary entrepreneurs leveraging recent scientific breakthroughs to develop transformative medicines. TCGX invests primarily in North America and Europe- or China-based companies doing U.S. drug development.

The Foley team was led by partners Louis Lehot, Eric Chow, Brandee Diamond, and Lyman Thai with support from associates Saige Gallop and Trevor Mullin.