Taiho Pharmaceutical Acquires Cullinan Pearl to Co-develop CLN-081/TAS6417

Taiho Pharmaceutical Co., Ltd. will acquire Cullinan Pearl Corp., a subsidiary of Cullinan Oncology, for $275 million upfront plus up to $130 million in regulatory milestone payments, and will co-develop and co-commercialize CLN-081/TAS6417. Cullinan Oncology will retain co-development and an option to co-commercialize in the U.S.; the deal provides Cullinan Oncology with cash to extend its runway and reduces its development and pre-commercialization costs.