1. Scrip
  2. >>Business
  3. >>Financing

Cullinan To Search For Oncology’s Diamonds In The Rough

 
• By Joseph Haas

With a business model based on portfolio management, the new company backed by MPM Capital plans to de-risk novel cancer therapies for out-licensing upon proof-of-concept or other value-creating inflection points.

Owen Hughes, CEO of Cullinan Oncology, and Patrick Bauerle, chief scientific officer of Cullinan
Cullinan CEO Owen Hughes, CSO Biologics Patrick Bauerle • Source: Source: Cullinan Oncology LLC

Privately held Cullinan Oncology LLC is launching with a $150m Series A financing, using a model of taking stand-alone cancer projects that other companies might turn down as too risky through Phase II proof-of-concept, and then – hopefully – monetizing them.

Backed by MPM Capital and F2 Ventures, Cullinan derives from the former’s UBS Oncology Impact Fund (IOF) as well as...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

Vor Is Reborn With New CEO And Ambitious RemeGen Autoimmune Pact

 
• By Kevin Grogan

The biotech had been looking at options to survive since May.

Stock Watch: When The Biotech Bandwagon Music Stops

 
• By Andy Smith

The number of viable biotech companies exploiting a particular technology should be limited by intellectual property but the number of biotech IPOs exploiting that same technology always seems greater than those with freedom to operate.

China Signals Restarting IPOs For Unprofitable Biotechs

 
• By Dexter Jie Yan

The China Securities Regulatory Commission has proposed a new “growth tier” for the STAR Market of the Shanghai Stock Exchange, to reinstate the market’s listing standards for unprofitable firms.

BIO Notebook: Woodcock Calls For Doing The Right Thing, Dealmaking Remains Constrained

 
• By Mandy Jackson, Joseph Haas, and Sarah Karlin-Smith

Highlights from Day Four of the BIO International Convention include Woodcock offering practical advice on rare disease trials, the sorry state of dealmaking mid-year, Novartis discussing its approach to partnering, and Generate looking for funding to move into Phase III.

More from Business

Vor Is Reborn With New CEO And Ambitious RemeGen Autoimmune Pact

 
• By Kevin Grogan

The biotech had been looking at options to survive since May.

Can Japan’s Richest Person Save Cell Therapy’s Future?

 
• By Lisa Takagi

With financial help from the founder of Uniqlo, Japan’s leading facility for induced pluripotent stem cells is aiming to automate production to slash costs and kick-start R&D in the field.

Biogen’s Spinraza Follow-On May Offer Disease-Modifying Potential

 
• By Joseph Haas

Biogen hopes to move directly from Phase I to Phase III with salanersen, a higher-potency therapy that uses the same mechanism of action as Spinraza.