Talawar Therapeutics to Go Public via $285 Million SPAC Merger
Biotech startup Talawar Therapeutics has entered a definitive agreement to merge with JATT II Acquisition Corp, a move set to take the company public on the Nasdaq under the ticker TLWR. The deal, expected to close in late 2026, includes a $225 million private investment to fund clinical trials through 2028.
The merger aims to bankroll the development of TALA-125, a bispecific antibody designed to treat atopic dermatitis. By targeting two distinct inflammatory pathways—IL-13 and IL-18—simultaneously, the company intends to overcome the efficacy plateaus often seen in current monotherapy treatments. Clinical entry for the lead candidate is slated for the first quarter of 2027, with proof-of-concept data anticipated by the second half of 2028.
Financial backing for the transaction includes an oversubscribed $225 million private placement led by Access Biotechnology, with support from heavyweights such as Bain Capital Life Sciences, RA Capital Management, and Janus Henderson Investors. Upon the deal's completion, the combined entity expects to command $285 million in capital, assuming no redemptions from JATT II shareholders.
The company’s leadership features industry veterans, including CEO Marc Schegerin and CMO Fabio Nunes. Praveen Tipirneni, former head of Caldera Therapeutics, will join the board of directors. The partnership represents the first commercial venture for assets discovered by Khanda Therapeutics, with the new public entity prioritizing the advancement of TALA-125 alongside two additional discovery-phase programs, TALA-307 and TALA-711.
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