Biotech Values

[DewDiligence]

Cullgen abandons PULM reverse-merger—will_be acquired by GYRE:

https://www.prnewswire.com/news-releases/pulmatrix-announces-termination-of-prior-planned-merger-and-continues-pursuit-of-alternative-merger-opportunities-302700613.html

https://www.globenewswire.com/news-release/2026/03/02/3247348/0/en/Gyre-Therapeutics-Enters-into-Agreement-to-Acquire-Cullgen-to-Gain-Targeted-Protein-Degradation-Platform-and-Pipeline.html

Cullgen is primarily a Chinese company, although it has operations in San Diego. GYRE is paying approximately $300M cash for the acquisition.

PULM is down 36% today.