Gyre Therapeutics falls after $300 million deal to buy Cullgen

Gyre Therapeutics

02/03/2026 14:22

** Shares of biotech firm Gyre Therapeutics GYRE.O fall 3.88% to $7.92 premarket

** GYRE says it will buy privately-held biotech firm Cullgen in an all-stock deal valued at about $300 million

** The deal gives GYRE access to Cullgen's proprietary platform designed to remove disease-causing proteins in several inflammatory diseases, cancers, and pain

** The deal includes Cullgen's lead program, CG001419, an oral drug being developed for post-surgery pain and also studied in solid tumors

** The deal is expected to close early in Q2 2026

** Gyre says Cullgen CEO Ying Luo is expected to become CEO of Gyre upon deal close

** GYRE shares were down over 41% in 2025

 (Reporting by Kunal Das in Bengaluru)

 ((Kunal.Das2@thomsonreuters.com;))