Tourmaline Bio (TRML) Leerink’s Global Healthcare Conference 2025 summary

Company overview and strategic focus

• Focused on immunology, leveraging anti-IL-6 antibody pacibekitug licensed from Pfizer, with best-in-class potential based on early studies.

• Targeting cardiovascular inflammation and thyroid eye disease, with phase II trials in both indications reading out in 2024.

• 2024 marked by execution; 2025 expected to be a pivotal year for data and potential transformation.

• IL-6 pathway chosen due to strong clinical, genetic, and epidemiologic validation across multiple disorders.

Cardiovascular disease landscape and IL-6 rationale

• Inflammation is a key, under-addressed risk factor in cardiovascular disease, with IL-6 as a validated target.

• Recent studies, including the Women's Health Study and CLEAR Outcomes, highlight hs-CRP as a stronger predictor of events than LDL.

• Anti-inflammatory approaches, especially targeting IL-6, could represent a paradigm shift in risk management.

• Pacibekitug offers less frequent dosing (quarterly), potentially improving adherence and outcomes.

Competitive positioning and trial design

• Pacibekitug is unique for its quarterly dosing, compared to competitors' more frequent regimens.

• Tranquility phase II trial over-enrolled 143 CKD stage III/IV patients with high hs-CRP, testing three dosing arms vs. placebo.

• Primary endpoint is change in hs-CRP at day 90, with responder analysis and additional biomarker tracking.

• Safety and dose selection for long-term use are key considerations for advancing to phase III.