Oversubscribed $225 million concurrent private investment in public equity ("PIPE") with available cash to the combined company at closing anticipated to fund TALA-125 through a Phase 2b proof-of-concept study data readout in the second half of 2028
Talawar, the first company formed to develop and commercialize assets discovered by Khanda Therapeutics, L.P. ("Khanda"), is developing TALA-125, a novel anti-IL-13 × anti-IL-18 bispecific antibody for atopic dermatitis, with clinical entry expected in 1Q 2027
Leadership team includes industry veterans, CEO Marc Schegerin, MD, MBA and CMO Fabio Nunes, MD, MMSc, with Praveen Tipirneni, MD, MBA joining the board
NEW YORK and WESTFIELD, N.J., June 29, 2026 /PRNewswire/ -- Talawar Tx Inc. ("Talawar" or "Talawar Therapeutics"), a biotechnology company developing potentially best-in-class bispecific antibodies that pair independent immunology & inflammatory (I&I) disease drivers in a single therapy, targeting pathways that work together for greater, more durable impact, and JATT II Acquisition Corp (Nasdaq: JATT) ("JATT II"), a special purpose acquisition company focused on building the next wave of life sciences companies, today announced they have entered into a definitive business combination agreement.
The combined company will operate as Talawar Therapeutics and is expected to trade on the Nasdaq Capital Market under the ticker symbol "TLWR". Available cash to the combined company at closing is anticipated to fund TALA-125 through a Phase 2b proof-of-concept study data readout in the second half of 2028.
The business combination is expected to close in the second half of 2026, subject to customary closing conditions, including approval by JATT II shareholders and regulatory approvals. Upon closing, the combined company expects to receive $285 million (prior to the payment of transaction costs and assuming no redemptions by JATT II's public shareholders). Proceeds will be funded through a combination of $60 million held in a trust account by JATT II (assuming no redemptions by JATT II's public shareholders) and a $225 million concurrent PIPE of common stock at $10.00 per share. The PIPE is led by founding investor Access Biotechnology and includes participation from Bain Capital Life Sciences, Deep Track Capital, RA Capital Management, Janus Henderson Investors, Vianti Capital, Farallon Capital Management, and other leading healthcare dedicated investors and mutual funds.
"Atopic dermatitis remains one of the largest therapeutic markets in I&I, yet a persistent efficacy ceiling leaves a majority of patients unable to achieve meaningful clinical responses on current standard-of-care treatments," said Marc Schegerin, MD, Chief Executive Officer of Talawar. "TALA-125 is purpose-built to shatter the current monotherapy efficacy plateau by combining two clinically validated, complementary mechanisms in a single bispecific molecule. This strategic transaction provides us with the capital to rapidly advance TALA-125 into the clinic as we aim to deliver on our commitment to dramatically broaden and deepen responses for patients living with I&I disorders."