# Cullgen

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cullgen

- Industry: Biotechnology
- Headquarters: San Diego, US
- Website: www.cullgen.com/
- Total disclosed funding: $101M
- Latest round: Series C (May 8, 2023)
- Investors on record: 12

## About

Founded in 2018 by Jian Jin and Yue Xiong and based in California, US, Cullgen Inc. operates as a biopharmaceutical company that manufactures medical drugs for cancer and autoimmune diseases using uSMITE™, a protein degradation technology. In May 2023, Cullgen Inc. raised a USD 40 million series C funding led by AstraZeneca, with participation from Sincere Capital, Voyagers Capital, and Wuxi Venture Capital Group. In November 2024, Cullgen Inc., a portfolio company of 3E Bioventures Capital, AstraZeneca, GNI Ltd., Heights Capital Management, HighLight Capital, MSA Capital, Octagon Capital Advisors, Sequoia Capital, Sincere Capital, South China Venture Capital, Voyagers Capital, and Wuxi Venture Capital Group, agreed to merge with Pulmatrix, Inc. Following the transaction, the combined entity will operate under Cullgen Inc. Financial terms were not disclosed.

The company provides drug discovery services that are intended to create new drugs for the treatment of diseases that currently lack effective therapies. The company's services use a targeted protein degradation technology, uSMITE™ that produces precision medicine with the potential to address a broad range of intracellular disease targets, such as oncology, inflammation, CNS, and other diseases that cannot be addressed by existing therapies. The company’s service enables scientists to develop novel therapeutic approaches for various diseases. The company is developing a number of uSMITE™ based therapeutics in-house, primarily for oncology. The company’s advanced candidate, CG001419, is in pre-clinical studies.

The company intends to use the May 2023 funding to hasten the development of its technology platform and internal pipeline of targeted protein degraders for the treatment of cancer and other diseases.

## Funding rounds

- Series C, May 8, 2023, $35M — AstraZeneca, Wuxi Huading Venture Capital, Sincere Capital, Voyagers Capital, GNI Ltd.
- Series B, Feb 25, 2021, $50M — MSA Capital, Heights Capital Management, South China Venture Capital, 3E Bioventures Capital, Octagon Capital Advisors
- Series A, Apr 10, 2019, $16M — Hong Shan, HighLight Capital

## Investors

- Hong Shan — Series A
- HighLight Capital (https://capitalatlas.ai/funds/highlight-capital) — Series A
- MSA Capital (https://capitalatlas.ai/funds/msa-capital) — Series B
- Heights Capital Management (https://capitalatlas.ai/funds/heights-capital-management) — Series B
- South China Venture Capital (https://capitalatlas.ai/funds/south-china-venture-capital) — Series B
- 3E Bioventures Capital (https://capitalatlas.ai/funds/3e-bioventures-capital) — Series B
- Octagon Capital Advisors (https://capitalatlas.ai/funds/octagon-capital-advisors) — Series B
- AstraZeneca — Series C
- Wuxi Huading Venture Capital (https://capitalatlas.ai/funds/wuxi-huading-venture-capital) — Series C
- Sincere Capital (https://capitalatlas.ai/funds/sincere-capital) — Series C
- Voyagers Capital (https://capitalatlas.ai/funds/voyagers-capital) — Series C
- GNI Ltd. — Series C