Gyre Therapeutics Acquires Cullgen for $300 Million, Builds US-China Biopharma Platform
Gyre Therapeutics completed its $300 million all-stock acquisition of Cullgen, adding a China innovation engine and creating a US- and China-based integrated biopharmaceutical company. The combined company markets ETUARY® for lung fibrosis in China, advances F351 for CHB-induced liver fibrosis through priority NDA review, and expands its targeted protein degrader pipeline.
1. Acquisition Details
Gyre completed its all-stock deal valued at $300 million to acquire clinical-stage Cullgen, making it a wholly owned subsidiary and establishing a fully integrated US- and China-based biopharmaceutical company.
2. Leadership and Corporate Structure
Dr. Ying Luo, former Cullgen CEO, was named President and CEO and joined Gyre’s board, while Ping Zhang remains Chairman, reflecting a combined leadership across both geographies.
3. Pipeline Expansion and Commercial Assets
The combined entity markets ETUARY® for lung fibrosis in China, has initiated F351 NDA review with priority status for CHB-induced liver fibrosis, and inherits Cullgen’s discovery engine for targeted protein degraders and degrader-antibody conjugates.