Novartis announces commencement of tender offer to acquire Regulus Therapeutics

Novartis today announced that Redwood Merger Sub Inc., a Delaware corporation and an indirect wholly owned subsidiary of Novartis (“Purchaser”), has commenced a tender offer to acquire all of the outstanding shares of common stock, par value $0.001 per share (the “Shares”), of Regulus Therapeutics Inc., a Delaware corporation (“Regulus”), in exchange for (i) $7.00 in cash per Share, subject to any applicable withholding and without interest thereon, plus (ii) one contingent value right (each, a “CVR”) per Share, representing the right to receive one contingent payment of $7.00 in cash, subject to any applicable withholding and without interest thereon, upon the achievement of a regulatory milestone. Such offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated May 27, 2025, and the related Letter of Transmittal (together, the “Offer”) and pursuant to the terms of the previously announced Agreement and Plan of Merger, dated as of April 29, 2025 (the “Merger Agreement”), among Novartis, Purchaser and Regulus.