Astellas shells out $35M upfront to Cullgen in protein degrader development deal
Astellas is expanding its mark in the growing protein degradation space with a potential $1.9 billion deal with San Diego and Shanghai-based Cullgen.
Cullgen, which closed a $50 million Series B round in 2021 to develop its protein degradation platform and pipeline, will get an upfront payment of $35 million from the pharma giant. An additional $85 million is at stake if Astellas uses a license option for the already-identified lead program: a cell cycle protein degrader for the treatment of breast cancer and other solid tumors.
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