Rhea-AI Summary
Talawar Therapeutics and JATT II (Nasdaq: JATT) signed a definitive business combination to create a Nasdaq-listed biotech, expected to trade as TLWR in 2H 2026. The deal 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. 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 in 4Q 2027. Talawar also advances discovery programs TALA-307 and TALA-711 in additional immunology indications.
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