Cullinan Therapeutics, Inc. announced on June 4, 2025, that it has entered into an exclusive license agreement with Genrix Bio for velinotamig, a BCMAxCD3 bispecific T cell engager. This agreement grants Cullinan global rights, excluding Greater China, for all indications, with a focus on developing velinotamig in autoimmune diseases.
Under the terms of the agreement, Cullinan will pay Genrix Bio an upfront license fee of $20 million. Genrix Bio is also eligible to receive up to $292 million in development and regulatory milestones, along with up to an additional $400 million in sales-based milestones, and tiered royalties on net sales outside Greater China ranging from mid-single digits to mid-teens.
Velinotamig has previously demonstrated potential best-in-class efficacy at the Phase 2 target dose in nearly 50 patients with relapsed/refractory multiple myeloma. Genrix plans to initiate a Phase 1 study in China for autoimmune diseases by the end of 2025, and Cullinan intends to leverage this data to accelerate its global clinical development of the program. This strategic addition complements CLN-978, allowing Cullinan to target a broader range of autoimmune diseases, particularly those driven by long-lived plasma cells, while reiterating its cash runway into 2028.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.