Gyre Therapeutics to acquire Cullgen in $300M all-stock transaction

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Tue, March 3, 2026 astatine 7:23 AM CST 1 min read

Gyre Therapeutics (GYRE) announced its statement to get Cullgen, a privately-held, clinical-stage biopharmaceutical institution focused connected the find and improvement of targeted macromolecule degrader and degrader antibody conjugate therapies, successful an all-stock transaction valued astatine astir $300M. Following the closure of the acquisition, the caller combined entity volition beryllium a afloat integrated biopharmaceutical institution with U.S.- and China-based capabilities spanning from find to manufacturing and commercialization and covering aggregate therapeutic areas including inflammatory diseases, cancers, and pain. Under the presumption of the definitive agreement, Cullgen volition go a wholly owned subsidiary of Gyre. Upon the completion of the acquisition, the interim CEO and Executive Chairman of Gyre, Ping Zhang, volition stay arsenic the Executive Chairman. The existent CEO of Cullgen, Dr. Ying Luo, is expected to go the President and EO and a subordinate of the committee of directors of Gyre. The transaction is expected to adjacent aboriginal successful the 2nd 4th of 2026, taxable to customary closing conditions, including indispensable regulatory approvals successful the United States. Prior to entering into this transaction, Cullgen’s projected merger with Pulmatrix (PULM) was terminated.

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