Cullgen Acquired by Gyre Therapeutics | Healthcare M&A Deal

Gyre Therapeutics has completed the acquisition of Cullgen, a pharmaceuticals business in California, for $300 million. Gyre Therapeutics acquisitions combine a commercial-stage fibrosis focus with Cullgen’s targeted protein degrader (TPD) and degrader antibody conjugate (DAC) discovery and clinical-stage pipeline. The merger acquisition creates a U.S.- and China-based biopharmaceutical platform with a China innovation engine for early-stage development of targeted protein degraders and degrader-antibody conjugates. As a strategic acquisition, the healthcare M&A deal closed as an all-stock transaction valued at over $100M, with Cullgen leadership joining Gyre and the combined company continuing on Nasdaq under the GYRE ticker.