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Cullinan Oncology Provides Corporate Update and Reports Second Quarter 2022 Financial Results
Completed agreement for strategic collaboration to jointly develop and commercialize CLN-081 with Taiho Pharmaceutical Presented updated Phase 1/2a data for
About this update from Cullinan Therapeutics, Inc.
[{"type":"text","content":"Completed agreement for strategic collaboration to jointly develop and commercialize CLN-081 with Taiho Pharmaceutical Presented updated Phase 1/2a data for CLN-081 at the 100mg BID dose showing median duration of response greater than 21 months and median progression-free survival of 12 months at the American Society for Clinical Oncology (ASCO) Annual Meeting Cash and investments of $656 million1 as of June 30, 2022 expected to provide runway through 2026. CAMBRIDGE, Mass., Aug. 10, 2022 (GLOBE NEWSWIRE) -- Cullinan Oncology, Inc. (Nasdaq: CGEM), a biopharmaceutical company focused on developing a diversified pipeline of targeted therapeutic candidates across multiple modalities for patients with cancer, today reported on recent and upcoming business highlights and announced its financial results for the second quarter ended June 30, 2022. “In the second quarter of 2022, Cullinan Oncology demonstrated significant portfolio advancement, including the closing of our agreement with Taiho Pharmaceutical for CLN-081, an oral presentation for CLN-081 at the American Society of Clinical Oncology (ASCO) 2022 Annual Meeting, and continued progression of our pipeline of potential first-in-class and best-in-class oncology assets. These achievements demonstrate our commitment to creating new standards of care for patients with unmet need,” said Nadim Ahmed, Chief Executive Officer of Cullinan Oncology. “We are pleased with the continued strengthening of CLN-081’s clinical profile,” Ahmed continued. “Updated data released at ASCO highlighted a high response rate, favorable safety and tolerability, and improving durability of response from the ongoing Phase 1/2a study for patients with EGFR exon 20 insertion mutation non-small-cell lung cancer. Financially, the closing of the Taiho transaction for CLN-081 has extended our cash runway through 2026, giving us the financial flexibility to accelerate and expand the development of our diverse pipeline as well as obtain promising new oncology assets. Looking ahead, we continue to advance our earlier-stage programs, including CLN-619 and CLN-049, with initial Phase 1 data readouts expected by mid-2023, as well as CLN-617 and CLN-978, for which we anticipate IND filings in the first half of next year.” Portfolio Highlights CLN-081: In June, Cullinan Oncology completed its strategic agreement with T...