Gyre Therapeutics acquires Cullgen to expand fibrosis and inflammatory disease drug pipeline.

Gyre Therapeutics completed its acquisition of Cullgen in an all-stock deal valued at about $300 million, creating a fully integrated biopharmaceutical company with operations in the U.S. and China. The combined company now has a commercial product, ETUARY®, for lung fibrosis in China, and a robust pipeline including F351 for liver fibrosis and targeted protein degraders from Cullgen. This strategic move strengthens Gyre's leadership and innovation capabilities, supporting future global growth and expanding treatment options for fibrosis and inflammatory diseases. The company is advancing multiple late-stage clinical trials and exploring international development opportunities for its key drug candidates.