Pulmatrix to Merge with Cullgen to Form Nasdaq-Listed Company Focused on Targeted Protein Degradation
November 13, 2024
Pulmatrix announced a proposed merger with Cullgen to create a Nasdaq-listed biopharmaceutical company focused on targeted protein degradation, including three degrader programs in or about to begin Phase 1 clinical trials. The combined company is expected to operate as Cullgen Inc. headquartered in San Diego, California, with closing expected by end of March 2025 subject to approvals. As part of the merger agreement, Pulmatrix plans to divest certain assets, and Pulmatrix stockholders are expected to receive a special cash dividend contingent on net cash at closing.
- Buyers
- Cullgen Inc.
- Targets
- Pulmatrix, Inc., Cullgen Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Transaction Type
- Buyout
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