Tempest announces acquisition of new dual-CAR T programs from Factor Bioscience

In a transaction designed to both expand its pipeline and extend its runway, Tempest Therapeutics (TPST) announced that it has entered into definitive agreements to acquire certain dual-targeting chimeric antigen receptor-T programs from Factor Bioscience and its affiliates in an all-stock transaction. The Proposed Transaction is expected to close in early 2026, subject to necessary stockholder approvals and satisfaction of closing conditions. The Proposed Transaction will expand and further diversify Tempest’s existing clinical-stage pipeline, with the acquisition of the first clinical-stage CD19/BCMA parallel structured dual-CAR T specifically designed to target patients with extramedullary disease, which we are referring to as TPST-2003. In addition, the Company expects that existing cash at Closing and an investment commitment from Factor will support the Company’s planned operations to mid 2027, including through potential key development and data milestones in 2026 and 2027.