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
June 29, 2026 -- 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."
TALA-125 is expected to enter the clinic in the first quarter of 2027, with interim Phase 1 data anticipated in the fourth quarter of 2027. Talawar is also advancing two discovery-phase programs, TALA-307 and TALA-711, in additional immunology indications.
"We set out to build Talawar as Khanda's first company because atopic dermatitis represents one of the largest unmet opportunities in I&I, one where the monotherapy paradigm has consistently fallen short for patients," said Dan Becker, MD, PhD, Board Chair of Talawar and Managing Director of Access Biotechnology. "TALA-125 is the embodiment of the Khanda model: uniting two validated, orthogonal pathways in a single molecule to break through the efficacy ceiling where monotherapies have fallen short. As a founding investor, we are proud to lead this financing and back this exceptional team as they advance a program we believe can redefine what's possible for patients living with I&I disorders."
Talawar is led by a team of highly experienced pharmaceutical industry veterans with deep expertise in I&I, including CEO Marc Schegerin, MD, MBA and CMO Fabio Nunes, MD, MMSc. Dr. Schegerin brings extensive operational, financial, and strategic experience in the life sciences industry having previously served as COO and CFO at Morphic Therapeutic, as well as CFO and Head of Strategy at ArQule. Dr. Nunes is an internist and medical geneticist with over a decade of experience leading clinical development in immunology and dermatology. He most recently served as Vice President of Dermatology and Respiratory Clinical Development at Johnson & Johnson, overseeing global Phase 2 and Phase 3 programs.
Praveen Tipirneni, MD, an accomplished biotechnology executive with extensive leadership experience as CEO of Caldera Therapeutics and Morphic Therapeutic, has joined the Talawar Board of Directors. Dr. Tipirneni brings a proven track record in company building and corporate strategy to support Talawar's next phase of growth.
Talawar Therapeutics is a biotechnology company developing potentially best-in-class bispecific antibodies that pair independent disease drivers in a single therapy, targeting pathways that work together for greater, more durable impact. Our lead program, TALA-125, is a novel anti-IL-13 x anti-IL-18 bispecific that combines two clinically validated, largely orthogonal mechanisms designed to shatter the current limitations of existing treatments – with broad applicability across first-line patients and those who have failed previous therapies.
Khanda Therapeutics is a biotech company builder that translates validated and emerging biological insights into biotech companies—each designed to unite orthogonal pathways with rigor and precision, delivering new standards in therapeutic efficacy. Our agile model lets us pursue potentially best-in-disease combinations, accelerating new treatment options for patients around the world. Our vision is a future where biological insight reliably becomes transformative therapy, changing the course of chronic disease and relieving its burden on patients.
JATT II Acquisition Corp is a newly incorporated blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of entering into a merger, amalgamation, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses. JATT II Acquisition Corp is sponsored by JATT Ventures II L.P. and is led by Dr. Someit Sidhu, Chief Executive Officer and Chairman of the Board, and Nicholas Fernandez, Chief Financial Officer. JATT II Acquisition Corp's Board of Directors also includes Verender S. Badial, Arjun Goyal, Jonathon Kluft and Christopher Staral, bringing extensive experience across biotechnology investing, company architecture, and public and private capital markets.
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