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Gyre Therapeutics Completes $300 Million All-Stock Acquisition of Cullgen

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-- Gyre Therapeutics (GYRE) said Monday it closed the purchase of clinical-stage biopharmaceutical firm Cullgen through an all-stock transaction valued at roughly $300 million.

The deal turns the acquired business into a wholly owned unit focusing on therapies for fibrosis and inflammatory diseases, the company said.

Former Cullgen chief executive Ying Luo was appointed president, chief executive, and board member of the combined organization, while Ping Zhang will maintain his position as chairman of the board, Gyre Therapeutics said.

Price: $7.97, Change: $+0.17, Percent Change: +2.18%

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