U.S. Biotech Acquires $300 Million Tech Platform, Integrating into Sino-U.S. New Drug Company

Gyre Therapeutics, Inc. (NASDAQ: GYRE) announced on May 4 that it has completed its acquisition of the privately held company Cullgen via a stock‐for‐stock exchange valued at approximately $300 million (₩400 billion), and has fully integrated Cullgen as a wholly owned subsidiary. As part of the transaction, Dr. Ying Luo, former CEO of Cullgen, has joined Gyre as its new Chief Executive Officer and a member of the Board of Directors. The combined company now operates as a U.S.–China unified bioplatform, featuring ETUARY (a fibrosis therapy marketed in China), F351 (a candidate for chronic hepatitis B–induced liver fibrosis), and Cullgen’s targeted protein degradation and antibody-degrader fusion pipelines.

On May 12, Gyre announced that China’s Center for Drug Evaluation under the National Medical Products Administration has formally accepted the new drug application (NDA) for F351, its liver fibrosis candidate for chronic hepatitis B. In March, the company had already secured priority review status for the same indication.

Headquartered in San Diego, Gyre Therapeutics is a commercial-stage biopharmaceutical company focused on fibrosis. Through its Chinese affiliate, Gyre Pharmaceuticals, the company markets anti-fibrosis therapies including ETUARY, while advancing a portfolio of liver fibrosis candidates led by F351. Within the global pharmaceutical industry, targeted protein degradation and antibody-degrader fusion modalities are emerging as next-generation approaches for hard-to-treat cancers and inflammatory diseases. Against this backdrop, Gyre’s accelerated development of Cullgen’s candidates has drawn significant industry attention.