Baeuer­le-backed Cul­li­nan grows its pipeline of port­fo­lio plays, adopts a new can­cer drug with eye to clin­i­cal de­vel­op­ment

About 15 months af­ter Cul­li­nan On­col­o­gy de­buted with $150 mil­lion and in­tro­duced its part-fund/part-op­er­at­ing com­pa­ny mod­el for piec­ing to­geth­er a pipeline full of can­cer drugs un­der in­di­vid­ual in­vest­ment ve­hi­cles, the biotech is pub­licly spot­light­ing an ear­ly-stage on­col­o­gy drug that is be­ing adopt­ed af­ter mak­ing the cut.

The biotech struck a deal with Tai­ho Phar­ma­ceu­ti­cals to take the drug and put it in a ve­hi­cle dubbed Cul­li­nan Pearl, which will op­er­ate un­der the um­brel­la or­ga­ni­za­tion now manned by a lean-and-mean team of 15. Tai­ho in turn gets a chunk of eq­ui­ty and its ven­ture arm is in­vest­ing along­side Cul­li­nan in a launch round for Pearl.

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