Acquisition Details#
Gyre Therapeutics, Inc. (NASDAQ:GYRE) has successfully completed its acquisition of Cullgen Inc., a biopharmaceutical company focused on clinical-stage treatments. This all-stock deal is valued at around $300 million. Following the acquisition, Cullgen is now a wholly owned subsidiary of Gyre, which has a combined market capitalization of $712 million.
Leadership Changes#
With the acquisition, Dr. Ying Luo, the former CEO of Cullgen, has taken over as President and CEO of Gyre and joined its Board of Directors. Ping Zhang continues to serve as the Chairman of the Board.
Product Portfolio#
The newly combined company boasts a commercial product, ETUARY, which is approved in China for treating lung fibrosis. Additionally, it has a promising pipeline that includes F351, a treatment for liver fibrosis caused by chronic hepatitis B. Despite the potential of its product offerings, analysts do not expect Gyre to achieve profitability this year, although it reported $117 million in revenue over the past twelve months and maintains a strong gross profit margin of 95%.
Future Developments#
Gyre has received priority review status from the Center for Drug Evaluation in China for F351's New Drug Application. The company is also looking to expand F351's development beyond China, including in the United States. Furthermore, Gyre has completed enrollment in a Phase 3 trial for ETUARY targeting pneumoconiosis and has initiated a study for radiation-induced lung injury.
As of December 31, 2025, Gyre Therapeutics holds a 69.7% equity interest in its subsidiary, Gyre Pharmaceuticals. The company continues to trade on the Nasdaq Capital Market under the ticker GYRE, with its stock showing a 10% increase year-to-date, although it has decreased by 16% over the past year.