Business
Pulmatrix Announces Termination of Prior Planned Merger and Continues Pursuit of Alternative Merger Opportunities
Cullgen had been seeking approval for a merger with Pulmatrix from the China Securities Regulatory Commission and on February 28, 2026, notified Pulmatrix
About this update from Pulmatrix, Inc.
[{"type":"text","content":"Cullgen had been seeking approval for a merger with Pulmatrix from the China Securities Regulatory Commission and on February 28, 2026, notified Pulmatrix that Cullgen was terminating the Merger Agreement - Pulmatrix advances existing discussions on alternative merger opportunities - FRAMINGHAM, Mass., March 2, 2026 /PRNewswire/ -- Pulmatrix, Inc. (\"Pulmatrix\" or the \"Company\") (Nasdaq: PULM), a biopharmaceutical company that has focused on the development of novel inhaled therapeutic products intended to prevent and treat migraine and respiratory diseases with important unmet medical needs using its patented iSPERSE™ technology, today announced that on February 28, 2026, Cullgen Inc. notified Pulmatrix that Cullgen was terminating the Merger Agreement (as defined herein) and related transactions thereunder. This termination follows the December 2025 press release announcing that Pulmatrix and Cullgen had mutually agreed to waive the \"No Solicitation\" clause in the Merger Agreement in order to permit each party to explore alternate transactions in the period until closing. At this time, Pulmatrix continues to pursue alternative merger opportunities.\n \n \n \n \n \n \n \nPeter Ludlum, Interim Chief Executive Officer of Pulmatrix, commented, \"Due to the significant delays at the Chinese Regulatory Authority (CSRC) in 2025, we initiated a process earlier this year to identify an alternative reverse merger opportunity for the Company, and we are encouraged by both the interest we've had to date as well as the recent increase in transaction activity within our industry.\"Prior Proposed Merger with CullgenAs previously reported, on November 13, 2024, the Company entered into an agreement and plan of merger with Cullgen, as amended by Amendment No. 1 thereto on April 7, 2025 (the \"Merger Agreement\" and the transactions contemplated thereunder, collectively, the \"Merger\").Additional information about the Merger Agreement and the previously proposed Merger was previously disclosed in a registration statement on Form S-4 (File No. 333-284993) initially filed with the Securities and Exchange Commission (the \"SEC\") on February 14, 2025, as amended on April 17, 2025, and May 7, 2025, and declared effective on May 9, 2025.On June 16, 2025, the Company held a special meeting in lieu of the annual meeting of Pulmatrix stockholders...