AcquisitionsMay 4, 2026, 08:49 AM
Gyre Therapeutics Closes $300M All-Stock Acquisition of Cullgen Inc.
AI Summary
Gyre Therapeutics, Inc. announced the closing of its all-stock acquisition of Cullgen Inc., valued at approximately $300 million. Following the transaction, Cullgen became a wholly owned subsidiary, and Dr. Ying Luo, former Cullgen CEO, was appointed President and Chief Executive Officer of Gyre. The combined entity now boasts a revenue-producing commercial asset, ETUARY®, and a robust pipeline focused on fibrosis and inflammatory diseases, including F351 which recently received priority review status in China.
Key Highlights
- Gyre Therapeutics completed the all-stock acquisition of Cullgen Inc. for approximately $300 million.
- Dr. Ying Luo, former Cullgen CEO, was appointed President and CEO of Gyre and joined the Board of Directors.
- The combined entity will continue to be listed on the Nasdaq Capital Market under the ticker “GYRE”.
- The new company offers a commercial-stage product, ETUARY®, on the market in China for lung fibrosis.
- F351 (hydronidone) received priority review status from China’s NMPA for its NDA in March.
- Enrollment completed in the 52-week Phase 3 ETUARY® trial for pneumoconiosis.
- First patient enrolled in a Phase 3 study evaluating ETUARY® for radiation-induced lung injury.
- Gyre Therapeutics owns a 69.7% equity interest in Gyre Pharmaceuticals as of December 31, 2025.