BioCentury
ARTICLE | Deals

Cullinan gets $275M up front, reshapes deal with Taiho for EGFR program

Three years after sourcing targeted cancer program from Japanese pharma, Cullinan sells back subsidiary while retaining upside

May 12, 2022 2:04 PM UTC

With Phase I/IIa data piling up and a pivotal study in the works, Cullinan is selling a subsidiary housing its EGFR exon 20 program to Taiho, giving the Japanese company most global rights to the molecule once again and extending Cullinan’s cash runway to develop other programs or in-license additional assets.

Cullinan Oncology Inc. (NASDAQ:CGEM) will receive $275 million up front and will continue to share in the upside of CLN-081/TAS6417, which it had been developing in its Cullinan Pearl subsidiary to treat a subset of patients with non-small cell lung cancer. Cullinan had paid Taiho Pharmaceutical Co. Ltd. $2.5 million up front in February 2019 for most global rights to the program...