Cullinan Oncology sells Cullinan Pearl to Taiho for $275M; co-develop CLN-081 in U.S.

Cullinan Therapeutics, Inc.

Taiho will acquire Cullinan Pearl for $275M upfront, plus up to $130M in regulatory milestones.
Cullinan and Taiho will co-develop and co-commercialize CLN-081 (EGFR exon20 inhibitor) in the U.S., sharing profits 50/50.
As of March 31, 2022, cash and investments were $410M; including $275M upfront, pro forma $685M.
Cash runway extended to 2026 from prior guidance of 2024, excluding potential milestones and U.S. profit share.
Acquisition expected to close in Q2 2022, subject to HSR and other customary conditions.

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