EL7.AI
Mergers & Acquisitions•29 June 2026•
1 min read

Talawar Therapeutics, JATT II Acquisition Corp. Merge in $225M SPAC Deal

Key Facts

1Talawar Therapeutics and JATT II Acquisition Corp. announced a definitive business combination agreement to create a publicly listed biotechnology company.
2An oversubscribed $225 million concurrent PIPE will fund TALA-125 through a Phase 2b proof-of-concept study data readout in the second half of 2028.
3TALA-125 is a novel anti-IL-13 × anti-IL-18 bispecific antibody for atopic dermatitis, with clinical entry expected in Q1 2027.

Amid an accelerating wave of SPAC mergers in biotechnology, Talawar Therapeutics and JATT II Acquisition Corp. (NASDAQ: JATT) announced a definitive business combination to create a publicly listed biotech firm. According to reports, the deal includes an oversubscribed $225 million concurrent PIPE that will fund lead candidate TALA-125 through a Phase 2b proof-of-concept readout in the second half of 2028. TALA-125 is a novel anti-IL-13 × anti-IL-18 bispecific antibody for atopic dermatitis, with clinical entry expected in Q1 2027.

The transaction comes amid a broader SPAC wave in biotech, though many previous deals have struggled to meet projected valuations. The oversubscribed PIPE signals investor confidence in Talawar’s early-stage pipeline. Per market data, early-stage biotech valuations remain volatile and hinge on upcoming clinical trial results, making the success of TALA-125 critical.

Investors will monitor regulatory approvals and the deal's expected closing in the second half of 2026. Post-listing, the focus will shift to TALA-125’s Phase 1 initiation in Q1 2027, with the Phase 2b readout in H2 2028 as a key catalyst. No trading levels exist yet, but the stock will be driven by clinical progress and future trial outcomes.