Cullinan Oncology increases ownership in MICA subsidiary to 92% for $30.7M

Cullinan Therapeutics, Inc.

Purchased 14.97M shares from Avalon Ventures and Bregua Corp at $2.05/share, totaling $30.7M.
Ownership in MICA (holder of CLN-619 rights) increased from 54% to 92%.
MICA holds worldwide rights to CLN-619, a monoclonal antibody targeting MICA/MICB pathway.
Phase I trial of CLN-619 (monotherapy + combo with checkpoint inhibitor) on track for initial data in mid-2023.
Myeloma Investment Fund (MMRF) retained its existing ownership stake in MICA.

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